Elasticity of functions: f(x,y) = (xy)/(x^2 + 2y) and g(x,y) = (x^⍺ x y)/(x^2 + y^2)
Any help with these two questions would be greatly appreciated. The question is to find their elasticities. I'm in way over my head and don't even know where to start:sad:
1) f(x,y) = (xy)/(x^2 + 2y)
2) g(x,y) = (x^⍺ x y)/(x^2 + y^2)
Any help with these two questions would be greatly appreciated. The question is to find their elasticities. I'm in way over my head and don't even know where to start:sad:
1) f(x,y) = (xy)/(x^2 + 2y)
2) g(x,y) = (x^⍺ x y)/(x^2 + y^2)