QMS 702 Study Guide - Final Guide: Inflection Point, Kolmogorov Space, Credit Card Debt

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 702
• Professor: Arash Islami

Document Summary

General expression of the elasticity of demand e(p) Is demand elastic or inelastic when p=4, p=8. Find inflection point of the graph of r. Evalute defitnite integral by substitution (u=1) (u=0) to get 2/3. =e+14/3, graph area is from x=0 to x=1. > x= 2, put that into demand function to. Determine cs and ps if market price is set to equil price. original formula to get 14. 93 (inflection) , where t=0 :2006, find the year at (cid:449)hi(cid:272)h gro(cid:449)th rate of (cid:272)ou(cid:374)tr(cid:455)"s gdp (cid:449)as (cid:373)a(cid:454)i(cid:373)al. Put t=0, t=4, t=8 into 1 derivative equation, whichever is bigger is it. > sub f(1): into equation where x = 1. To get e+2+c , then e+2+c = e+4 , -> 2+c =4 -> c=2 -> put 2 inplace of c. Credit card debt stood at per household at beginning of. 2008(x=0) , and was changing at rate ofuntil 2012.