What is the formula for the income elasticity of demand?

Would you usually expect elasticity of demand or supply to be higher in the short run or in the long run? Why?

If supply is inelastic, will shifts in demand have a larger effect on equilibrium price or on quantity?

If supply is elastic, will shifts in demand have a larger effect on equilibrium quantity or on price?

If demand is inelastic, will shifts in supply have a larger effect on equilibrium price or on quantity?

If demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or on price?

Describe the general appearance of a demand or a supply curve with infinite elasticity.

At what depth will 4.25 m$^{3}$/s flow uniformly in a rectangular channel 3.6 m wide lined with rubble masonry and laid on a slope of 1:4000?

Describe the general appearance of a demand or a supply curve with zero elasticity.

What is the formula for the wage elasticity of labor supply?

Consider the plane curve parametrized by $x(s)=\int_{0}^{s} \cos g(t) d t$, $y(s)=\int_{0}^{s} \sin g(t) d t$, where g is a differentiable function. (a) Show that the parameter s is the arclength parameter. (b) Calculate the curvature $\kappa(s)$. (c) Use part (b) to explain how you can create a parametrized plane curve with any specified continuous, nonnegative curvature function $\kappa(s)$. (d) Give a set of parametric equations for a curve whose curvature $\kappa(s)=|s|$. (Your answer should involve integrals.) (e) Use a computer to graph the curve you found in part (d), known as a clothoid or a spiral of Cornu. (Note: The integrals involved are known as Fresnel integrals and arise in the study of optics. You must evaluate these integrals numerically in order to graph the curve.)

What is the formula for elasticity of savings with respect to interest rates?

Should a firm shut down immediately if it is making losses?

To what sorts of customers would an insurance company offer a policy with a high copay? What about a high premium with a lower copay?