Mathematical economics: Difference between revisions
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== External links == | == External links == | ||
[http://www.elsevier.com/cgi-bin/cas/tree/store/mateco/cas_free/browse/browse.cgi?key=mkwa Keyword list from Journal of Mathematical Economics] | * [http://www.elsevier.com/cgi-bin/cas/tree/store/mateco/cas_free/browse/browse.cgi?key=mkwa Keyword list from Journal of Mathematical Economics] | ||
* [http://www.ma.hw.ac.uk/~des/HWM00-26.pdf Wealth Condensation in Pareto Macro-Economies] | |||
*[http://www.ma.hw.ac.uk/~des/HWM00-26.pdf Wealth Condensation in Pareto Macro-Economies] | |||
Revision as of 20:14, 31 March 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.