Define the role of the mathematical concepts of maximization and equilibrium in microeconomic theory.

Business

1 answer:

labwork [276]2 years ago

8 0

Answer:

Functions and graphs are two mathematical concepts that are heavily used in microeconomics.

Explanation:

1. Functions

Economics is full of functions: manufacturing functions, distribution functions, parameter values, components for welfare programs, and so on. A function is indeed a connexion between several sets of data, such that the second set correlates exactly to one variable for each value in one collection.

2. Graphs

By visualising it in a graph we can enhance the innate knowledge of a practices and organisational performance. In a chart, independent variable effects are generally read off the horizontal axis, and the dependent variable effects are generally read off another vertical axis. And for variables, each position in the line matrix correlates to a set of variables

You might be interested in

The time that an employee spends on a particular job determines his or her specialization of labor.

zmey [24]

Answer:

MAde up of employes in an industry

Explanation:

3 0

2 years ago

The gini ratio for lifetime income is _______ the gini ratio for annual income.

o-na [289]

<span>The Gini ratio for lifetime income is less than the Gini ratio for annual income.</span>

4 0

3 years ago

SCENARIO 1.1: An economist wants to understand the relationship between minimum wages and the levelof teenage unemployment. The

Harman [31]

Answer : Minimum Wage

Explanation: From the scenario analysis the minimum wage should be reduced since its increasing the unemployment rate so that lesser wages would make the youth to work more for their salary.

3 0

3 years ago

iscuss the burden placed on people or organizations contacted as references for job candidates. How do organizations cope with t

mario62 [17]

Answer:In human resource planning, forecasting is an intermediary step

Explanation:

FALSE

The process of human resource planning consists of three stages: forecasting, goal setting and strategic planning, and program implementation and evaluation. The first step in human resource planning is forecasting

3 0

2 years ago

Meat Puppets Company purchased equipment for $7,200 on December 1. It is estimated that annual depreciation on the equipment wil

Akimi4 [234]

Answer: Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150

Explanation:

Depreciation is the decrease in fixed assets for use. At the end of each year the amount corresponding to the use of the assets is carried to accounting expenses, crediting the accumulated depreciation as a counterpart.

In this case it is only one month of depreciation, therefore if we know that annually the asset is going to depreciate US $ 1800, between twelve months it would be US $ 150, which would be due to expenses and credited to accumulated depreciation.

5 0

2 years ago