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Illustrate the roles of mathematics in modern economics?
Roles of Mathematics in Modern Economics:
Mathematics has become a significant tool into modern economics. Mostly every field into modern economics uses statistics and mathematics. The mathematical approach to economic analysis is utilized while economists make utilization of mathematical symbols into the statement of a problem and also draw upon identified mathematical theorems to aid in reasoning. This is not hard to understand why the mathematical approach has turn into a dominant approach because finding the boundary of a theory, improving an analytical framework of a theory, founded reference systems, and giving analytical tools all require mathematics. When we apply a theoretical outcome to real world without understanding the boundary of a theory, we may obtain a very bad result and hurt an economy seriously.
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
solution for -calculate price elasticity of demand for demand function Q= 10 - 2p for decrease in price from Rs. 3 to Rs.2
what is free market?
inflation wide equality while deflation narrow it down due in aggree distify we answer with algement?
Vulnerability in international relations: Dominance, dependence and vulnerability in international relations.A greater volume of Ghana’s exports comes from primary commodities
Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales
Equilibrium is explained as follows: Equilibrium is the state in which there are no shortages and surpluses; or we can say that the quantity demanded is equal to the quantity s
where would i find the matter for this topic?
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1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm ha
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