question 125

Short Answer

$$\text { Find the function } f \circ g \text { and its domain if } f ( x ) = \frac { x - 1 } { x } \text { and } g ( x ) = \frac { x } { x + 3 } \text {. }$$

---

Definitions:

Elasticity Coefficient

A numerical measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in one of its determinants, such as price.

Elastic

Describes a situation in economics where the demand for a product or service significantly changes in response to a price change.

Substitution Effect

The change in consumption resulting from a change in the relative prices of goods, leading consumers to substitute one good for another.

Relative Price

The price of one good or service compared to another, usually expressed as a ratio or quotient.