A Mathematical Approach to Economic AnalysisA Mathematical Approach to Economic Analysis is a student friendly, readable text that motivates economic students to learn math and mathmatics students to learn economics by providing immediate and useful economic applications with every mathematical concept. Toumanoff and Nourzad's ability to assist student comprehension by using a building-block approach and including several instructional aids in the text, makes this book perfect for in and out of classroom use. |
Contents
An Introduction to Economic Reasoning | 1 |
CHAPTER | 4 |
CHAPTER | 5 |
Copyright | |
24 other sections not shown
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A Mathematical Approach to Economic Analysis Peter Toumanoff,Farrokh Nourzad No preview available - 2001 |
Common terms and phrases
a₁ average revenue behavior Chapter choice variables comparative statics comparative statics analysis comparative statics results constant constrained optimization constraint consumer consumption convex cost function cost minimization Cramer's rule decreases demand curve demand function dX₁ economic elasticity envelope theorem equilibrium conditions equilibrium values EXERCISES Section exogenous variables exponential function expression f₁ Figure firm firm's first-order conditions graph Hessian matrix homogeneous implicit function increase independent variable indifference curve input inverse isoquant labor Lagrange multiplier linear logarithmic long-run marginal cost marginal cost curve marginal product marginal revenue mathematical negative NUMERICAL EXAMPLE objective function P₁ P₁X₁ P₂ parameters partial derivatives polynomial price-taker principal minors problem production function profit-maximizing quadratic quantity demanded rate of output relationship respect second derivative second-order conditions short-run slope solve statics analysis substitution theorem total cost total differential total revenue U₁ utility function vector w₁ w₂ X₁ X₂ Y₁