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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.
Increasing returns to scale and decreasing returns to scale: Increasing returns to scale occur when increases in all inputs by a certain percentage cause a relatively higher p
Female-headed households: The high incidence of unemployment among the educated in general and women in a particular reflects that the pace of creation of diversified employme
When is tax to society cause a deadweight loss? Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax A tax causes a deadweight loss to society, since les
Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit. As fixed costs have no impact on marginal cost, it can be given as: Average Total
#question.explain three neccessary condition to achieve pareto efficiency.
Question Suppose you work for the state government of California. Due to the heavy traffic jam on I-880, the state has decided to decide to construct a new highway. To fund a p
What are the income and cross elasticities of demand? Why might they be useful? Explain.
what is the mass of a body when it is taken to the moon
Households: The fundamental unit of individual economic behaviour. Households offer labour supply to labour market, make consumer purchases,earn income (from employment and other s
The compact disk player has literally revolutionized the recording industry with its state-of-the-artclarity, sound, durability, and the fact that it costs less than cassette tape
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