A. Math Topics

A1. Elasticity

How can we represent the sensitivity of one variable to changes in another?

Video

Description

(0:00)	defining the sensitivity of y to changes in x
(2:50)	additive vs. proportional vs. percentage changes
(5:48)	slope vs. derivative vs. elasticity as different measures of sensitivity
(7:40)	deriving the change in y from the change in x
(9:40)	relatively elastic, relatively inelastic, and unit elastic demand functions
(14:00)	relationship between derivative and elasticity
(17:00)	constant elasticity functions