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Unitary Elactic
we know from total expenditure method of measuring elasticity of demand that if total expenditure remains the same when price changes, elasticity is unitary. rectangular hyperbola is a curve under which all rectangular areas are equal. also, each rectangular area shows total expenditure on the commodity. along the curve, even if price changes, total expenditure remains the same, so rectangular hyperbola shows the elasticity of 1.
AFC = (TFC/ Q). It looks like a hyperbola because fixed cost is spread over a larger range of output
This is the curve which shows the unitary elastic demand where the change in quantity demanded equals with the change in price.
Assuming that the given demand curve is a rectangular hyperbola, total expenditure (i.e. rectangular area or Q*P) is the same for each point on the length of the curve. Next we use the demand function to determine the total expenditure value as Q=1/P=>Q*P=1, and we have consequently a demand curve of unitary elasticity.
Defn: A hyperbola is said to be a rectangular hyperbola if its asymptotes are at right angles. Std Eqn: The standard rectangular hyperbola xy = c2
Unitary Elactic
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we know from total expenditure method of measuring elasticity of demand that if total expenditure remains the same when price changes, elasticity is unitary. rectangular hyperbola is a curve under which all rectangular areas are equal. also, each rectangular area shows total expenditure on the commodity. along the curve, even if price changes, total expenditure remains the same, so rectangular hyperbola shows the elasticity of 1.
AFC = (TFC/ Q). It looks like a hyperbola because fixed cost is spread over a larger range of output
It is a graph of a proportional relationship if it is either: a straight lie through the origin, ora rectangular hyperbola.
This is the curve which shows the unitary elastic demand where the change in quantity demanded equals with the change in price.
No. The rectangular hyperbola does not pass through the origin but it represents inverse proportionality.
The two characteristics "hexahedron" and "rectangular faces" are sufficient.
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Sure, it's a rectangular prism with additional properties.
It is a pentahedron with a rectangular base and four triangular lateral faces.