Elasticity of Demand is the ratio of the proportionate change in quantity demanded to the proportionate change in price. In mathematical terms,
In demand function Q = a – bP. So, e = (dQ/dP)(P/Q)
a. J is used to denote the process of integration. In fact, this symbol is an elongated ‘S’ denoting sum.
b. The differential symbol ‘dx’ is written by the side of the function to be integrated.
c. ∫f(x) dx = F(x) + C, C is the integral constant ∫f(x)dx means, integration of f(x) with respect to x.
