A geometric Interpretation of elasticity Is as follows. Consider the tangent line to the demand curve q – fip) at the pointPo – (Po.40) . Let the point where the tangent line Intersects the p-axis be called A, and the point where It Intersects theq-axis be called B. Let Po A and PoB be the distances from Po to A and to B, respectively. Calculate the radio -Fax In termsof Po. Op. and f’ (Po) . and show that this rado equals the elasticity.In the equation for this tangent line In terms of Po. 9g. ‘ (Pp) – what lar (Po) ?A. the x-interceptJB.. the point the tangent line passes throughDec. the slopeD. the y-interceptWhat are the coordinates of points A and B In the form (p,cl?O A. A la at (0.40 -1 (Po) Po) and B la at | Po – (GD)B. A la at (do -f (Do) Po.D) and B la at |Q. Po – 7 (po)O C. A la at | 0. Pp – 7 (95JJand B Is at (do -f’ (Pe) Po-9)O D. A la a: |Po – (PO).and 8 Is at (I.do -f (Po) Pp );Using the distance formula, determine the ratioPOBFOAOA.O B.+atPO – (‘ (p0 ) " PO )?P BSimplify the radioFan . Choose the comect answer below.OA.O B. -OC. PalOD. -.f (4)What dimerence do you notice between this derived ratio and the elasticity formula?A. The derived ratlo does not have a negative In front.B. The derived formula Is the square of the elasticity formula.Oc. The derived formula Is the square root of the elasticity formula.OD. The derived formula Is the reciprocal of the elasticity formula.
A geometric interpretation of elasticity
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