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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.
Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone
Costs of Education The resources employed to produce a good or service measured in monetary terms is known as the ‘cost of the product’. If the measurement is per unit of serv
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In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
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how to solve min (x+y/2, 2y+3x, 3x)
Jeremy is an economics student who loves hamburgers. He could eat any number of them for dinner, but he gets a really bad stomach ache after eating a certain amount. In fact, his u
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