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Elasticity of a function

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1523:
then the curve is inelastic at the point. If the tangent line is extended to the horizontal axis the problem is simply a matter of comparing angles created by the lines and the horizontal axis. If the marginal angle is greater than the average angle then the function is elastic at the point; if the marginal angle is less than the average angle then the function is inelastic at that point. If, however, one follows the convention adopted by economists and plots the independent variable
1518:(dQ/dP) to the value of the average function (Q(P)/P). This relationship provides an easy way of determining whether a demand curve is elastic or inelastic at a particular point. First, suppose one follows the usual convention in mathematics of plotting the independent variable (P) horizontally and the dependent variable (Q) vertically. Then the slope of a line tangent to the curve at that point is the value of the marginal function at that point. The slope of a 418: 119: 1522:
drawn from the origin through the point is the value of the average function. If the absolute value of the slope of the tangent is greater than the slope of the ray then the function is elastic at the point; if the slope of the secant is greater than the absolute value of the slope of the tangent
1858: 598:. Equivalently, it is the ratio of the infinitesimal change of the logarithm of a function with respect to the infinitesimal change of the logarithm of the argument. Generalizations to multi-input–multi-output cases also exist in the literature. 413:{\displaystyle =\lim _{x\to a}{\frac {f(x)-f(a)}{x-a}}{\frac {a}{f(a)}}=\lim _{x\to a}{\frac {f(x)-f(a)}{f(a)}}{\frac {a}{x-a}}=\lim _{x\to a}{\frac {{\frac {f(x)}{f(a)}}-1}{{\frac {x}{a}}-1}}\approx {\frac {\%\Delta f(a)}{\%\Delta a}}} 1243: 1076: 1674: 2023:
The elasticity can also be defined if the input and/or output is consistently negative, or simply away from any points where the input or output is zero, but in practice the elasticity is used for positive
1972: 503: 1323: 909: 113: 820: 1730: 1438: 1722: 664: 1488: 1375: 596: 619: 690: 535: 1870:
The opposite definition is sometimes used in the literature. That is, the term "semi-elasticity" is also sometimes used for the change (not percentage-wise) in
555: 1082: 915: 1568: 1884: 429: 1254: 826: 2231: 2206: 736: 45: 2300: 2295: 2178: 2057: 1853:{\displaystyle \ln {f}=\ln {C\alpha ^{x}}=\ln {C}+x\ln {\alpha }\implies {\frac {d\ln {f}}{dx}}=\ln {\alpha }.} 1381: 726:
Rules for finding the elasticity of products and quotients are simpler than those for derivatives. Let
1682: 707: 624: 2099:"A scale elasticity measure for directional distance function and its dual: Theory and DEA estimation" 1445: 2098: 29: 2004: 1993: 1988: 715: 711: 2049: 2042: 1342: 560: 2074: 604: 2130:"Elasticities in Metabolic Control Analysis: algebraic derivation of simplified expressions" 669: 1999: 1500: 511: 8: 2194: 540: 2146: 2129: 2227: 2202: 2174: 2151: 2053: 1864: 1515: 1238:{\displaystyle E(f(x)-g(x))={\frac {f(x)\cdot E(f(x))-g(x)\cdot E(g(x))}{f(x)-g(x)}}} 1071:{\displaystyle E(f(x)+g(x))={\frac {f(x)\cdot E(f(x))+g(x)\cdot E(g(x))}{f(x)+g(x)}}} 2274: 2141: 2110: 2037: 508:
It is thus the ratio of the relative (percentage) change in the function's output
1535: 1504: 2114: 1983: 1519: 699:
between two points as the separation between those two points approaches zero.
696: 2289: 1514:), and can be expressed as (dQ/dP)/(Q(P)/P) or the ratio of the value of the 1679:
The semi-elasticity will be constant for exponential functions of the form,
2155: 2247: 17: 1546:
A semi-elasticity (or semielasticity) gives the percentage change in
703: 2278: 1669:{\displaystyle Sf(x)={\frac {1}{f(x)}}f'(x)={\frac {d\ln f(x)}{dx}}} 2265:
Nievergelt, Yves (1983). "The Concept of Elasticity in Economics".
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of a positive variable (positive input, positive output) at point
1531:
on the horizontal axis, then the opposite rules would apply.
2010: 1967:{\displaystyle {\frac {df(x)}{d\ln(x)}}={\frac {df(x)}{dx}}x} 1248:
The derivative can be expressed in terms of elasticity as
2173:(4th ed.). Boston: McGraw-Hill. pp. 192–193. 2075:"A Note on Equivalences in Measuring Returns to Scale" 1534:
The same graphical procedure can also be applied to a
1887: 1733: 1685: 1571: 1554:. Algebraically, the semi-elasticity S of a function 1448: 1384: 1345: 1257: 1085: 918: 829: 739: 672: 627: 607: 563: 543: 514: 432: 122: 48: 498:{\displaystyle Ef(x)={\frac {d\log f(x)}{d\log x}}.} 2041: 1966: 1852: 1716: 1668: 1482: 1432: 1369: 1318:{\displaystyle Df(x)={\frac {Ef(x)\cdot f(x)}{x}}} 1317: 1237: 1070: 903: 814: 684: 658: 613: 590: 549: 529: 497: 412: 107: 904:{\displaystyle E{\frac {f(x)}{g(x)}}=Ef(x)-Eg(x)} 537:with respect to the relative change in its input 2287: 2168: 2048:. Englewood Cliffs, NJ: Prentice Hall. pp.  2036: 1527:on the vertical axis and the dependent variable 1494: 295: 211: 127: 2079:International Journal of Business and Economics 1550:in terms of a change (not percentage-wise) in 695:The elasticity at a point is the limit of the 2171:Fundamental Methods of Mathematical Economics 815:{\displaystyle E(f(x)\cdot g(x))=Ef(x)+Eg(x)} 2201:(2nd ed.). South-Western. p. 656. 2199:Introductory Econometrics: A Modern Approach 702:The concept of elasticity is widely used in 108:{\displaystyle Ef(a)={\frac {a}{f(a)}}f'(a)} 2032: 2030: 601:The elasticity of a function is a constant 2264: 2193: 2127: 2011:=References==\frac{\Delta y}{\Delta x/x_1} 1804: 1800: 2145: 621:if and only if the function has the form 557:, for infinitesimal changes from a point 2134:Computer Applications in the Biosciences 2103:European Journal of Operational Research 2096: 2072: 2027: 2288: 2221: 1433:{\displaystyle E(a\cdot f(x))=Ef(x)} 2224:The theory of monetary institutions 2128:Woods, JH; Sauro, HM (April 1997). 1874:in terms of a percentage change in 13: 2258: 2226:. Malden: Blackwell. p. 148. 1541: 401: 398: 381: 378: 14: 2312: 2044:Mathematics for Economic Analysis 1863:An example of semi-elasticity is 1717:{\displaystyle f(x)=C\alpha ^{x}} 659:{\displaystyle f(x)=Cx^{\alpha }} 2147:10.1093/bioinformatics/13.2.123 2240: 2222:White, Lawrence Henry (1999). 2215: 2187: 2162: 2121: 2090: 2066: 2017: 1947: 1941: 1923: 1917: 1903: 1897: 1801: 1695: 1689: 1652: 1646: 1625: 1619: 1605: 1599: 1584: 1578: 1503:refers to the elasticity of a 1468: 1452: 1427: 1421: 1409: 1406: 1400: 1388: 1355: 1349: 1306: 1300: 1291: 1285: 1270: 1264: 1229: 1223: 1214: 1208: 1200: 1197: 1191: 1185: 1176: 1170: 1161: 1158: 1152: 1146: 1137: 1131: 1119: 1116: 1110: 1101: 1095: 1089: 1062: 1056: 1047: 1041: 1033: 1030: 1024: 1018: 1009: 1003: 994: 991: 985: 979: 970: 964: 952: 949: 943: 934: 928: 922: 898: 892: 880: 874: 859: 853: 845: 839: 809: 803: 791: 785: 773: 770: 764: 755: 749: 743: 637: 631: 585: 582: 576: 564: 524: 518: 472: 466: 445: 439: 393: 387: 339: 333: 325: 319: 302: 267: 261: 253: 247: 238: 232: 218: 201: 195: 169: 163: 154: 148: 134: 102: 96: 82: 76: 61: 55: 1: 2087:, and see references therein. 1495:Estimating point elasticities 1483:{\displaystyle E(bx^{a})=a\ } 7: 2248:"Stata 17 help for margins" 2169:Chiang; Wainwright (2005). 2097:Zelenyuk, Valentin (2013). 2073:Zelenyuk, Valentin (2013). 1977: 10: 2317: 2115:10.1016/j.ejor.2013.01.012 1501:price elasticity of demand 718:respectively for details. 708:metabolic control analysis 2040:; Hammond, Peter (1995). 730:be differentiable. Then 1370:{\displaystyle E(a)=0\ } 721: 591:{\displaystyle (a,f(a))} 614:{\displaystyle \alpha } 30:differentiable function 2301:Mathematical economics 2296:Functions and mappings 2005:Logarithmic derivative 1994:Elasticity coefficient 1989:Elasticity (economics) 1968: 1854: 1718: 1670: 1484: 1434: 1371: 1319: 1239: 1072: 905: 816: 716:elasticity coefficient 712:elasticity (economics) 686: 685:{\displaystyle C>0} 660: 615: 592: 551: 531: 499: 414: 109: 1969: 1855: 1719: 1671: 1485: 1435: 1372: 1320: 1240: 1073: 906: 817: 687: 661: 616: 593: 552: 532: 500: 415: 110: 2000:Homogeneous function 1885: 1731: 1683: 1569: 1538:or other functions. 1446: 1382: 1343: 1336:be constants. Then 1255: 1083: 916: 827: 737: 670: 625: 605: 561: 541: 530:{\displaystyle f(x)} 512: 430: 120: 46: 2195:Wooldridge, Jeffrey 1964: 1850: 1714: 1666: 1499:In economics, the 1480: 1430: 1367: 1315: 1235: 1068: 901: 812: 682: 656: 611: 588: 547: 527: 495: 410: 309: 225: 141: 105: 1959: 1927: 1867:in bond trading. 1865:modified duration 1831: 1664: 1609: 1516:marginal function 1479: 1366: 1313: 1233: 1066: 863: 550:{\displaystyle x} 490: 408: 370: 361: 343: 294: 289: 271: 210: 205: 184: 126: 86: 2308: 2282: 2252: 2251: 2244: 2238: 2237: 2219: 2213: 2212: 2191: 2185: 2184: 2166: 2160: 2159: 2149: 2125: 2119: 2118: 2094: 2088: 2086: 2070: 2064: 2063: 2047: 2034: 2025: 2021: 1973: 1971: 1970: 1965: 1960: 1958: 1950: 1933: 1928: 1926: 1906: 1889: 1859: 1857: 1856: 1851: 1846: 1832: 1830: 1822: 1821: 1806: 1799: 1782: 1768: 1767: 1766: 1744: 1723: 1721: 1720: 1715: 1713: 1712: 1675: 1673: 1672: 1667: 1665: 1663: 1655: 1632: 1618: 1610: 1608: 1591: 1489: 1487: 1486: 1481: 1477: 1467: 1466: 1439: 1437: 1436: 1431: 1376: 1374: 1373: 1368: 1364: 1324: 1322: 1321: 1316: 1314: 1309: 1277: 1244: 1242: 1241: 1236: 1234: 1232: 1203: 1126: 1077: 1075: 1074: 1069: 1067: 1065: 1036: 959: 910: 908: 907: 902: 864: 862: 848: 834: 821: 819: 818: 813: 691: 689: 688: 683: 665: 663: 662: 657: 655: 654: 620: 618: 617: 612: 597: 595: 594: 589: 556: 554: 553: 548: 536: 534: 533: 528: 504: 502: 501: 496: 491: 489: 475: 452: 423:or equivalently 419: 417: 416: 411: 409: 407: 396: 376: 371: 369: 362: 354: 351: 344: 342: 328: 314: 311: 308: 290: 288: 274: 272: 270: 256: 227: 224: 206: 204: 187: 185: 183: 172: 143: 140: 114: 112: 111: 106: 95: 87: 85: 68: 26:point elasticity 2316: 2315: 2311: 2310: 2309: 2307: 2306: 2305: 2286: 2285: 2279:10.1137/1025049 2261: 2259:Further reading 2256: 2255: 2246: 2245: 2241: 2234: 2220: 2216: 2209: 2192: 2188: 2181: 2167: 2163: 2126: 2122: 2095: 2091: 2071: 2067: 2060: 2038:Sydsaeter, Knut 2035: 2028: 2022: 2018: 2013: 1980: 1951: 1934: 1932: 1907: 1890: 1888: 1886: 1883: 1882: 1878:which would be 1842: 1823: 1817: 1807: 1805: 1795: 1778: 1762: 1758: 1754: 1740: 1732: 1729: 1728: 1708: 1704: 1684: 1681: 1680: 1656: 1633: 1631: 1611: 1595: 1590: 1570: 1567: 1566: 1544: 1542:Semi-elasticity 1536:supply function 1505:demand function 1497: 1462: 1458: 1447: 1444: 1443: 1383: 1380: 1379: 1344: 1341: 1340: 1278: 1276: 1256: 1253: 1252: 1204: 1127: 1125: 1084: 1081: 1080: 1037: 960: 958: 917: 914: 913: 849: 835: 833: 828: 825: 824: 738: 735: 734: 724: 671: 668: 667: 666:for a constant 650: 646: 626: 623: 622: 606: 603: 602: 562: 559: 558: 542: 539: 538: 513: 510: 509: 476: 453: 451: 431: 428: 427: 397: 377: 375: 353: 352: 329: 315: 313: 312: 310: 298: 278: 273: 257: 228: 226: 214: 191: 186: 173: 144: 142: 130: 121: 118: 117: 88: 72: 67: 47: 44: 43: 12: 11: 5: 2314: 2304: 2303: 2298: 2284: 2283: 2273:(2): 261–265. 2260: 2257: 2254: 2253: 2239: 2232: 2214: 2207: 2186: 2179: 2161: 2120: 2109:(3): 592–600. 2089: 2065: 2058: 2026: 2015: 2014: 2012: 2009: 2008: 2007: 2002: 1997: 1996:(biochemistry) 1991: 1986: 1984:Arc elasticity 1979: 1976: 1975: 1974: 1963: 1957: 1954: 1949: 1946: 1943: 1940: 1937: 1931: 1925: 1922: 1919: 1916: 1913: 1910: 1905: 1902: 1899: 1896: 1893: 1861: 1860: 1849: 1845: 1841: 1838: 1835: 1829: 1826: 1820: 1816: 1813: 1810: 1803: 1798: 1794: 1791: 1788: 1785: 1781: 1777: 1774: 1771: 1765: 1761: 1757: 1753: 1750: 1747: 1743: 1739: 1736: 1711: 1707: 1703: 1700: 1697: 1694: 1691: 1688: 1677: 1676: 1662: 1659: 1654: 1651: 1648: 1645: 1642: 1639: 1636: 1630: 1627: 1624: 1621: 1617: 1614: 1607: 1604: 1601: 1598: 1594: 1589: 1586: 1583: 1580: 1577: 1574: 1543: 1540: 1496: 1493: 1492: 1491: 1476: 1473: 1470: 1465: 1461: 1457: 1454: 1451: 1441: 1429: 1426: 1423: 1420: 1417: 1414: 1411: 1408: 1405: 1402: 1399: 1396: 1393: 1390: 1387: 1377: 1363: 1360: 1357: 1354: 1351: 1348: 1326: 1325: 1312: 1308: 1305: 1302: 1299: 1296: 1293: 1290: 1287: 1284: 1281: 1275: 1272: 1269: 1266: 1263: 1260: 1246: 1245: 1231: 1228: 1225: 1222: 1219: 1216: 1213: 1210: 1207: 1202: 1199: 1196: 1193: 1190: 1187: 1184: 1181: 1178: 1175: 1172: 1169: 1166: 1163: 1160: 1157: 1154: 1151: 1148: 1145: 1142: 1139: 1136: 1133: 1130: 1124: 1121: 1118: 1115: 1112: 1109: 1106: 1103: 1100: 1097: 1094: 1091: 1088: 1078: 1064: 1061: 1058: 1055: 1052: 1049: 1046: 1043: 1040: 1035: 1032: 1029: 1026: 1023: 1020: 1017: 1014: 1011: 1008: 1005: 1002: 999: 996: 993: 990: 987: 984: 981: 978: 975: 972: 969: 966: 963: 957: 954: 951: 948: 945: 942: 939: 936: 933: 930: 927: 924: 921: 911: 900: 897: 894: 891: 888: 885: 882: 879: 876: 873: 870: 867: 861: 858: 855: 852: 847: 844: 841: 838: 832: 822: 811: 808: 805: 802: 799: 796: 793: 790: 787: 784: 781: 778: 775: 772: 769: 766: 763: 760: 757: 754: 751: 748: 745: 742: 723: 720: 697:arc elasticity 681: 678: 675: 653: 649: 645: 642: 639: 636: 633: 630: 610: 587: 584: 581: 578: 575: 572: 569: 566: 546: 526: 523: 520: 517: 506: 505: 494: 488: 485: 482: 479: 474: 471: 468: 465: 462: 459: 456: 450: 447: 444: 441: 438: 435: 421: 420: 406: 403: 400: 395: 392: 389: 386: 383: 380: 374: 368: 365: 360: 357: 350: 347: 341: 338: 335: 332: 327: 324: 321: 318: 307: 304: 301: 297: 293: 287: 284: 281: 277: 269: 266: 263: 260: 255: 252: 249: 246: 243: 240: 237: 234: 231: 223: 220: 217: 213: 209: 203: 200: 197: 194: 190: 182: 179: 176: 171: 168: 165: 162: 159: 156: 153: 150: 147: 139: 136: 133: 129: 125: 115: 104: 101: 98: 94: 91: 84: 81: 78: 75: 71: 66: 63: 60: 57: 54: 51: 39:is defined as 28:of a positive 9: 6: 4: 3: 2: 2313: 2302: 2299: 2297: 2294: 2293: 2291: 2280: 2276: 2272: 2268: 2263: 2262: 2249: 2243: 2235: 2233:0-631-21214-0 2229: 2225: 2218: 2210: 2208:0-324-11364-1 2204: 2200: 2196: 2190: 2182: 2176: 2172: 2165: 2157: 2153: 2148: 2143: 2140:(2): 123–30. 2139: 2135: 2131: 2124: 2116: 2112: 2108: 2104: 2100: 2093: 2084: 2080: 2076: 2069: 2061: 2055: 2051: 2046: 2045: 2039: 2033: 2031: 2020: 2016: 2006: 2003: 2001: 1998: 1995: 1992: 1990: 1987: 1985: 1982: 1981: 1961: 1955: 1952: 1944: 1938: 1935: 1929: 1920: 1914: 1911: 1908: 1900: 1894: 1891: 1881: 1880: 1879: 1877: 1873: 1868: 1866: 1847: 1843: 1839: 1836: 1833: 1827: 1824: 1818: 1814: 1811: 1808: 1796: 1792: 1789: 1786: 1783: 1779: 1775: 1772: 1769: 1763: 1759: 1755: 1751: 1748: 1745: 1741: 1737: 1734: 1727: 1726: 1725: 1709: 1705: 1701: 1698: 1692: 1686: 1660: 1657: 1649: 1643: 1640: 1637: 1634: 1628: 1622: 1615: 1612: 1602: 1596: 1592: 1587: 1581: 1575: 1572: 1565: 1564: 1563: 1561: 1557: 1553: 1549: 1539: 1537: 1532: 1530: 1526: 1521: 1517: 1513: 1509: 1506: 1502: 1474: 1471: 1463: 1459: 1455: 1449: 1442: 1424: 1418: 1415: 1412: 1403: 1397: 1394: 1391: 1385: 1378: 1361: 1358: 1352: 1346: 1339: 1338: 1337: 1335: 1331: 1310: 1303: 1297: 1294: 1288: 1282: 1279: 1273: 1267: 1261: 1258: 1251: 1250: 1249: 1226: 1220: 1217: 1211: 1205: 1194: 1188: 1182: 1179: 1173: 1167: 1164: 1155: 1149: 1143: 1140: 1134: 1128: 1122: 1113: 1107: 1104: 1098: 1092: 1086: 1079: 1059: 1053: 1050: 1044: 1038: 1027: 1021: 1015: 1012: 1006: 1000: 997: 988: 982: 976: 973: 967: 961: 955: 946: 940: 937: 931: 925: 919: 912: 895: 889: 886: 883: 877: 871: 868: 865: 856: 850: 842: 836: 830: 823: 806: 800: 797: 794: 788: 782: 779: 776: 767: 761: 758: 752: 746: 740: 733: 732: 731: 729: 719: 717: 713: 709: 705: 700: 698: 693: 679: 676: 673: 651: 647: 643: 640: 634: 628: 608: 599: 579: 573: 570: 567: 544: 521: 515: 492: 486: 483: 480: 477: 469: 463: 460: 457: 454: 448: 442: 436: 433: 426: 425: 424: 404: 390: 384: 372: 366: 363: 358: 355: 348: 345: 336: 330: 322: 316: 305: 299: 291: 285: 282: 279: 275: 264: 258: 250: 244: 241: 235: 229: 221: 215: 207: 198: 192: 188: 180: 177: 174: 166: 160: 157: 151: 145: 137: 131: 123: 116: 99: 92: 89: 79: 73: 69: 64: 58: 52: 49: 42: 41: 40: 38: 34: 31: 27: 23: 19: 2270: 2266: 2242: 2223: 2217: 2198: 2189: 2170: 2164: 2137: 2133: 2123: 2106: 2102: 2092: 2082: 2078: 2068: 2043: 2019: 1875: 1871: 1869: 1862: 1678: 1559: 1555: 1551: 1547: 1545: 1533: 1528: 1524: 1511: 1507: 1498: 1333: 1329: 1327: 1247: 727: 725: 701: 694: 600: 507: 422: 36: 32: 25: 21: 15: 2267:SIAM Review 2024:quantities. 710:(MCA); see 18:mathematics 2290:Categories 2180:0070109109 2085:(1): 85–89 2059:013583600X 22:elasticity 1915:⁡ 1844:α 1840:⁡ 1815:⁡ 1802:⟹ 1797:α 1793:⁡ 1776:⁡ 1760:α 1752:⁡ 1738:⁡ 1706:α 1641:⁡ 1558:at point 1395:⋅ 1295:⋅ 1218:− 1180:⋅ 1165:− 1141:⋅ 1105:− 1013:⋅ 974:⋅ 884:− 759:⋅ 704:economics 652:α 609:α 484:⁡ 461:⁡ 402:Δ 399:% 382:Δ 379:% 373:≈ 364:− 346:− 303:→ 283:− 242:− 219:→ 178:− 158:− 135:→ 2197:(2003). 1978:See also 1616:′ 93:′ 2156:9146958 2050:173–175 1724:since, 2230:  2205:  2177:  2154:  2056:  1478:  1365:  20:, the 722:Rules 2228:ISBN 2203:ISBN 2175:ISBN 2152:PMID 2054:ISBN 1872:f(x) 1562:is 1548:f(x) 1332:and 1328:Let 728:f, g 714:and 706:and 677:> 2275:doi 2142:doi 2111:doi 2107:228 1520:ray 481:log 458:log 296:lim 212:lim 128:lim 24:or 16:In 2292:: 2271:25 2269:. 2150:. 2138:13 2136:. 2132:. 2105:. 2101:. 2083:12 2081:. 2077:. 2052:. 2029:^ 1912:ln 1837:ln 1812:ln 1790:ln 1773:ln 1749:ln 1735:ln 1638:ln 692:. 2281:. 2277:: 2250:. 2236:. 2211:. 2183:. 2158:. 2144:: 2117:. 2113:: 2062:. 1962:x 1956:x 1953:d 1948:) 1945:x 1942:( 1939:f 1936:d 1930:= 1924:) 1921:x 1918:( 1909:d 1904:) 1901:x 1898:( 1895:f 1892:d 1876:x 1848:. 1834:= 1828:x 1825:d 1819:f 1809:d 1787:x 1784:+ 1780:C 1770:= 1764:x 1756:C 1746:= 1742:f 1710:x 1702:C 1699:= 1696:) 1693:x 1690:( 1687:f 1661:x 1658:d 1653:) 1650:x 1647:( 1644:f 1635:d 1629:= 1626:) 1623:x 1620:( 1613:f 1606:) 1603:x 1600:( 1597:f 1593:1 1588:= 1585:) 1582:x 1579:( 1576:f 1573:S 1560:x 1556:f 1552:x 1529:Q 1525:P 1512:P 1510:( 1508:Q 1490:. 1475:a 1472:= 1469:) 1464:a 1460:x 1456:b 1453:( 1450:E 1440:, 1428:) 1425:x 1422:( 1419:f 1416:E 1413:= 1410:) 1407:) 1404:x 1401:( 1398:f 1392:a 1389:( 1386:E 1362:0 1359:= 1356:) 1353:a 1350:( 1347:E 1334:b 1330:a 1311:x 1307:) 1304:x 1301:( 1298:f 1292:) 1289:x 1286:( 1283:f 1280:E 1274:= 1271:) 1268:x 1265:( 1262:f 1259:D 1230:) 1227:x 1224:( 1221:g 1215:) 1212:x 1209:( 1206:f 1201:) 1198:) 1195:x 1192:( 1189:g 1186:( 1183:E 1177:) 1174:x 1171:( 1168:g 1162:) 1159:) 1156:x 1153:( 1150:f 1147:( 1144:E 1138:) 1135:x 1132:( 1129:f 1123:= 1120:) 1117:) 1114:x 1111:( 1108:g 1102:) 1099:x 1096:( 1093:f 1090:( 1087:E 1063:) 1060:x 1057:( 1054:g 1051:+ 1048:) 1045:x 1042:( 1039:f 1034:) 1031:) 1028:x 1025:( 1022:g 1019:( 1016:E 1010:) 1007:x 1004:( 1001:g 998:+ 995:) 992:) 989:x 986:( 983:f 980:( 977:E 971:) 968:x 965:( 962:f 956:= 953:) 950:) 947:x 944:( 941:g 938:+ 935:) 932:x 929:( 926:f 923:( 920:E 899:) 896:x 893:( 890:g 887:E 881:) 878:x 875:( 872:f 869:E 866:= 860:) 857:x 854:( 851:g 846:) 843:x 840:( 837:f 831:E 810:) 807:x 804:( 801:g 798:E 795:+ 792:) 789:x 786:( 783:f 780:E 777:= 774:) 771:) 768:x 765:( 762:g 756:) 753:x 750:( 747:f 744:( 741:E 680:0 674:C 648:x 644:C 641:= 638:) 635:x 632:( 629:f 586:) 583:) 580:a 577:( 574:f 571:, 568:a 565:( 545:x 525:) 522:x 519:( 516:f 493:. 487:x 478:d 473:) 470:x 467:( 464:f 455:d 449:= 446:) 443:x 440:( 437:f 434:E 405:a 394:) 391:a 388:( 385:f 367:1 359:a 356:x 349:1 340:) 337:a 334:( 331:f 326:) 323:x 320:( 317:f 306:a 300:x 292:= 286:a 280:x 276:a 268:) 265:a 262:( 259:f 254:) 251:a 248:( 245:f 239:) 236:x 233:( 230:f 222:a 216:x 208:= 202:) 199:a 196:( 193:f 189:a 181:a 175:x 170:) 167:a 164:( 161:f 155:) 152:x 149:( 146:f 138:a 132:x 124:= 103:) 100:a 97:( 90:f 83:) 80:a 77:( 74:f 70:a 65:= 62:) 59:a 56:( 53:f 50:E 37:a 33:f

Index

mathematics
differentiable function
arc elasticity
economics
metabolic control analysis
elasticity (economics)
elasticity coefficient
price elasticity of demand
demand function
marginal function
ray
supply function
modified duration
Arc elasticity
Elasticity (economics)
Elasticity coefficient
Homogeneous function
Logarithmic derivative


Sydsaeter, Knut
Mathematics for Economic Analysis
173–175
ISBN
013583600X
"A Note on Equivalences in Measuring Returns to Scale"
"A scale elasticity measure for directional distance function and its dual: Theory and DEA estimation"
doi
10.1016/j.ejor.2013.01.012
"Elasticities in Metabolic Control Analysis: algebraic derivation of simplified expressions"

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