This quantity names a class of production functions introduced by Robert Solow and popularized by Kenneth Arrow. The Prebisch–Singer hypothesis implies that this quantity is higher for primary goods than manufactured goods. Ragnar Frisch’s work on labor supply led him to formulate a namesake type of this quantity. This quantity gives an alternate name for an econometric log-log model, since it can be expressed as a ratio of logged variables. Firms can maximize profits when negative one over this quantity equals the (*) Lerner Index. (10[1])The “cross-price” (10[1])type of this quantity (10[2])is positive for (10[1])substitutes and negative for complements. (10[1]-5[1])This quantity is measured by the slope of the (-5[1])demand curve. (-5[1])For 10 points, (10[1])name this quantity (10[1])that represents an economic variable’s resistance to (10[1])change. ■END■ (10[2]0[3])