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Discuss about the language and methods of mathematics in modern economics.
Language and Methods of Mathematics:
This section reviews some fundamental mathematics results as like: continuity and concavity of purposes, Separating Hyperplane Theorem, fixed point theorems, optimization, correspondences (that is point to set mappings), KKM lemma and maximum theorem and many more that will be used to prove some results within the lecture notes.
The Long-Run Behavior of Natural Resource Prices Observations – Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in
what is comparative advantage
3, chapter 12
the short run can be defined as any period of time
A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers it sold increased from 240,000 to 280,000. i) Over this price range what
argument against in favour of traditonel theory profit maximisation
a reduction in investment spending would lead to
Arbitrage Pricing Theor y Arbitrage defines the procedure of continuously buying a security for privacy, currency, or commodity on one market and selling it in another
A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
what to produce? how to produce? for whom to produce
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