engleski

On normal assumptions on demand function and its elasticity

In this note we consider the demand function D = D(p), where p is price of a certain good and we introduce some natural assumptions on D in terms of the corresponding elasticity coefficient. We derive some properties of D which follow from the normal assumptions, and we provide economic interpretation and application. We also present some classes of of functions which satisfy the normal assumptions.

Elasticity of function, demand function, mathematical economics, mathematical analysis

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