Determining the price elasticity of demand with and without memory effects using fractional order derivatives: A numerical simulation approach
Demand elasticity is the sensitivity of changes in the number of goods demanded by consumers due to changes in the price of goods. This paper compares the price elasticity of demand with and without memory effect using fractional-order derivatives. This study is designed using the developme...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Growing Science
2022-01-01
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| Series: | Decision Science Letters |
| Online Access: | http://www.growingscience.com/dsl/Vol11/dsl_2022_7.pdf |