Prove the given questions: a. It is known that the elasticity of a demand curve x= f(P) is of the form a-bp, where a and
Posted: Wed Apr 27, 2022 11:39 am
Prove the given questions: a. It is known that the
elasticity of a demand curve x= f(P) is of the form a-bp, where a
and b are given constants. By integrating a differential equation,
show that demand law is x=Pa .e-bp+c, c being an arbitrary
constant. b. If C is total cost of output, it is known that
marginal cost always equals average costs show that average cost is
constant.
elasticity of a demand curve x= f(P) is of the form a-bp, where a
and b are given constants. By integrating a differential equation,
show that demand law is x=Pa .e-bp+c, c being an arbitrary
constant. b. If C is total cost of output, it is known that
marginal cost always equals average costs show that average cost is
constant.