Principles of Mathematical Economics
Under the assumption of a basic knowledge of algebra and analysis, micro and macro economics, this self-contained and self-sufficient textbook is targeted towards upper undergraduate audiences in economics and related fields such as business, management and the applied social sciences. The basic economics core ideas and theories are exposed and developed, together with the corresponding mathematical formulations. From the basics, progress is rapidly made to sophisticated nonlinear, economic modelling and real-world problem solving. Extensive exercises are included, and the textbook is particularly well-suited for computer-assisted learning.
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Assume average bond Cartesian product coefficients column combination competitive firm consumption cost function TC cubic function demand and supply demand equation demand function denote derivative determine difference equation elements endogenous variables equilibrium price example exogenous exponential function expressed firm’s profit maximizing firm’s total graph household input interest rate investment isocost isoquant labor and capital level of output loan logarithm long run marginal cost marginal revenue market demand function market equilibrium price market price matrix maximum minimum monopolist monopolistically competitive mortgage multiplier national income noncompetitive firm nonlinear normal profit optimal price and quantity problem production function profit maximizing profit maximizing level quadratic quantity demanded real numbers returns to scale shutdown price slope solution solve substituting Table tangent TC(Q total cost function total revenue trace function units of output variable cost vector write zero