Question

find the elasticity of the following function with respect to x. Y = Ax⁶​

Answer 1

Step-by-step explanation:

If the demand function is smooth, then we have a nice definition of the elasticity at a point on the demand curve: E = − dQ dP P Q . This is called the point elasticity. The slope dQ/dP is “normalized” by multiplying by P/Q (and by −1 so that it is positive).