Problem

Consider the power curve y = 10000x-2.35. Calculate y when x = 5; when x = 10; and when...

Consider the power curve y = 10000x-2.35. Calculate y when x = 5; when x = 10; and when x = 20. For each of these values of x, find the percentage change in y when x increases by 1%. That is, find the percentage change in y when x increases from 5 to 5.05; when it increases from 10 to 10.1; and when it increases from 20 to 20.2. Is this percentage change constant? What number is it very close to? Write a brief memo on what you have learned about power curves from these calculations.

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