Mathematical economics: Difference between revisions
wikademia>Erkan Yilmaz +cats + expand + typos |
wikademia>Remi see also - school - economics |
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Then use derivative of C with respect to x i.e. d(TC)/dx = 3x<sup>2</sup> + 5. | Then use derivative of C with respect to x i.e. d(TC)/dx = 3x<sup>2</sup> + 5. | ||
==See also== | |||
* [[School:Economics]] | |||
[[Category:Economics]] | [[Category:Economics]] | ||
[[Category:Mathematics]] | [[Category:Mathematics]] | ||
Revision as of 09:44, 6 February 2008
The Mathematics and Economics are totally linked, One uses Differentiation and Integration to find the Elasticities of Demand and Supply.
Following are few Examples:
If the total cost of the firm is given by TC(x) = x3 + 5x + 6 and the target is find the Marginal Cost.
Then use derivative of C with respect to x i.e. d(TC)/dx = 3x2 + 5.