Price Elasticity, Partial Derivative

Click For Summary
SUMMARY

This discussion focuses on calculating price elasticity using partial derivatives, specifically addressing the application of the quotient rule in this context. The participants emphasize the importance of providing clear, textual explanations rather than relying on images, as images may not remain accessible. A step-by-step breakdown of the partial derivative calculation is requested to clarify the process involved in determining price elasticity.

PREREQUISITES
  • Understanding of price elasticity concepts
  • Knowledge of partial derivatives in calculus
  • Familiarity with the quotient rule in differentiation
  • Ability to interpret demand functions
NEXT STEPS
  • Study the application of the quotient rule in calculus
  • Explore detailed examples of price elasticity calculations
  • Learn about demand functions and their implications in economics
  • Review guidelines for effective question formulation in academic forums
USEFUL FOR

Economics students, mathematicians, and anyone interested in understanding the relationship between price changes and demand through elasticity calculations.

levijohnson
Messages
1
Reaction score
0
Hi all,

I've got a question regarding a price elasticity problem and a partial derivative.
That's what's given for the exercise:
Screen Shot 2013-10-20 at 14.40.12.png


So, first of all we calculate all the demand with the given information. Which is:
Screen Shot 2013-10-20 at 14.38.24.png



And then we come to the actual problem. (4. b) )

Screen Shot 2013-10-20 at 14.38.11.jpg

How do they get the partial derivative here? I assume that they are using the quotient rule, right? I would be really glad for a step by step explanation.

Thank you so much!
 
Physics news on Phys.org
Hello there,

You should write your questions (Using the template btw, which you did not use!) instead of showing us images. This is because PF can't be sure that those images will stay up, and if they don't, then this thread will be of no use.

I believe somewhere in the PF guidelines, you can read what I just said.
 

Similar threads

Lagrange multipliers understanding
  • · Replies 8 ·
Replies
8
Views
2K
Finding the partial derivative from the given information
  • · Replies 2 ·
Replies
2
Views
2K
Solving Second Order Partial Derivative By Changing Variable
  • · Replies 5 ·
Replies
5
Views
4K
Help taking a partial derivative
  • · Replies 5 ·
Replies
5
Views
1K
Partial derivative second order
  • · Replies 3 ·
Replies
3
Views
2K
Find Values of Osculating Circle Tangent to a Parabola
  • · Replies 4 ·
Replies
4
Views
1K
Solving Partial Differential Equation
  • · Replies 2 ·
Replies
2
Views
1K
Derivation of Lagrangian in the calculus of variations
  • · Replies 3 ·
Replies
3
Views
2K
Economics Price Elasticity of Demand
  • · Replies 6 ·
Replies
6
Views
2K
Multivariable partial derivative
  • · Replies 3 ·
Replies
3
Views
2K