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What is an optimization in the methods of mathematics of modern economics?
Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic models are based onto the solution of optimization difficulties.
Results of such subsection are used through the text. The fundamental optimization problem is about maximizing or minimizing a function onto some set. The fundamental and central result is the existence theorem of Weierstrass.
Sources of Economic growth: Human resources: Investment in human capital is considered as an important factor for economic growth. This is done by increasing the quality of
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
Player 2 C B A 1,2 3,2 B 2,3 a, b Player 1
What is Game Theory? Game Theory is a mathematical method of decision-making in which a competitive situation is examined to verify the optimal course of action for an interes
. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
Ask question # how do you formulate a demand and supply equations when you a table of prices, quantity demanded and supplied?
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Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose
Ask q3x+5=20 uestion #Minimum 100 words accepted#
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