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Welcome to Wikipedia, the greatest encyclopedia on Earth! You seem to be off to a good start. Hopefully you will soon join the vast army of Wikipediholics!

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Hope to see you around the Wiki! If you have any questions whatsoever, feel free to contact me on my talk page  :)

Joe I 05:19, 6 January 2006 (UTC)[reply]

this and that

[edit]

Hello Coleca. For some people, wikipedia is a narcissistic venture. In anyone changes their text, for them it like smudging their very image, they react with derogatory language. In fact, such people actually have much to contribute - and they do - but their narcissism prevents other people from being constructive. C'est la vie. Politis 13:15, 31 January 2006 (UTC)[reply]

Showing that the sum of conditional demand elasticity is zero

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Start with the definition of the cost function:

and use the envelope theorem to get

So, we can get the summation

The simpler solution is to notice that a scale change in prices does not change the optimal choice of x, so the conditional demand is homogeneous degree zero. Then by Euler's Theorem

so