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Application of Derivatives to Economics-sec1-Pres
CHAPTER (3) : BASIC ELEMENTS OF SUPPLY AND DEMAND CHAPTER OUTLINE: 1-DEMAND &SUPPLY (D&S) CURVES THE DEMAND CURVE &SHIFTS IN THE (D) CURVE THE SUPPLY CURVE.
CHAPTER (3) : BASIC ELEMENTS OF SUPPLY AND DEMAND
1 Elasticity of Demand Responsiveness of demand to - Change in price (E p ) - Change in income (E y ) - Change in price of a related commodity (E c ) -
Shephard's Lemma Shephard’s lemma is a major result in microeconomics having applications in consumer choice and the theory of the firm.
