I had a lightbulb moment this past week. Apparently (this whole time) derivatives, elasticities, and marginal (cost/benefit/etc) are all essentially the same thing.
Elasticities and marginal cost ARE DERIVATIVES! By definition, the mechanics behind these concepts are all the same… so how did I not know this?
Did I simply miss something or was this a major oversight by my university? I will let you decide after watching the video!
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