Price elasticity of demand (supply) or simply elasticity of demand (supply) measures the relative or percentage variation experienced by the quantity demanded (supplied) as a consequence of a change in the price of one percent (1%); In other words, it measures the intensity with which buyers (sellers) respond to a change in the price price. Elasticity is often used with respect to the price-demand relationship or the price-supply relationship, but the applicability of this concept is not restricted to that single case, but is broader, since the elasticity is calculated in percentages, since it is the only way to obtain a common unit of measure. When calculating the elasticity in a relationship, the units of measurement are maintained, therefore, they do not measure a proportional change, but a propensity, such as the well-known propensit to Keynesian consumption. The rate at which the selling price changes and from a product, with respect to its supply "x", is given by the following equation ordinary differential: dy/dx -y=1 With "y" expressed in euros and "x" in thousands of units of the product. It is requested, applying the Laplace transform method: * a) Calculate the price based on the offer, knowing that when the price is €0, there is no offer of said product, "y". * b) Calculate the price when the offer is 2,400 units, with the corresponding graphic representation. * c) Mention what other method could have been used to solve the differential equation. * d) Graph and interpret the solution.
Price elasticity of demand (supply) or simply elasticity of demand (supply) measures the relative or percentage variation experienced by the quantity demanded (supplied) as a consequence of a change in the price of one percent (1%); In other words, it measures the intensity with which buyers (sellers) respond to a change in the price
price. Elasticity is often used with respect to the price-demand relationship or the price-supply relationship, but the applicability of this concept is not restricted to that single case, but is broader, since the elasticity is calculated in percentages, since it is the only way to obtain a common unit of measure. When calculating the elasticity in a
relationship, the units of measurement are maintained, therefore, they do not measure a proportional change, but a propensity, such as the well-known propensit to Keynesian consumption. The rate at which the selling price changes and from a product, with respect to its supply "x", is given by the following equation ordinary differential:
dy/dx -y=1
With "y" expressed in euros and "x" in thousands of units of the product. It is requested, applying the Laplace transform method:
* a) Calculate the price based on the offer, knowing that when the price is €0, there is no offer of said product, "y".
* b) Calculate the price when the offer is 2,400 units, with the corresponding graphic representation.
* c) Mention what other method could have been used to solve the differential equation.
* d) Graph and interpret the solution.
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