Mathematical economics: Difference between revisions

Revision as of 16:39, 23 January 2008

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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.

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-The Mathematics and Economics are totally linked, One uses Differeniation and Integration to find the Elasticites of Demand and Supply.
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+The Mathematics and Economics are totally linked, One uses Differentiation and Integration to find the Elasticities of Demand and Supply.
 Following are few Examples:
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 Then use derivative of C with respect to x i.e. d(TC)/dx = 3x<sup>2</sup> + 5.
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wikademia>Erkan Yilmaz

Revision as of 16:39, 23 January 2008