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I need help in the following question:
"The rate of increase of the rate of Inflation is decreasing" Write this sentence in terms of derivatives of average prices.
My answer: Let p=price
t= time
therefore, Rate of change of price = dp/dt = Inflation = I
therefore, rate of increase of the rate of Inflation = I'
therefore, I' = (d^2p)/(dt^2)
Since the rate of increase of the rate of Inflation is decreasing;
I' = - (d^2p)/(dt^2)
I just like to ask whether this is correct.
Thanks.
"The rate of increase of the rate of Inflation is decreasing" Write this sentence in terms of derivatives of average prices.
My answer: Let p=price
t= time
therefore, Rate of change of price = dp/dt = Inflation = I
therefore, rate of increase of the rate of Inflation = I'
therefore, I' = (d^2p)/(dt^2)
Since the rate of increase of the rate of Inflation is decreasing;
I' = - (d^2p)/(dt^2)
I just like to ask whether this is correct.
Thanks.