July 2020

Simplifying Algebraic Expressions- In the algebraic expression [ad_1] x is called the variable, and 7 is known as the coefficient of x3. Expressionsconsisting simply of a coefficient multiplying one or more variables raised to thepower of a positive integer are called monomials. Monomials can be added orsubtracted to form polynomials. Each of the monomials comprising […]

Quadratic Equations- Graphs of Quadratic Functions [ad_1] IntroductionLinear equations and methods for their solution were introduced in the previouschapter. As we have seen, the graphs of linear functions are straight lines andtherefore their slopes are constant. This means that the function changes by aconstant amount whenever the dependent variable changes by the same fixedvalue. This

Functions of a Single Variable [ad_1] IntroductionThe concept of a function is fundamental to many of the applications that wewill encounter in economics. As we have already seen in Chapters 2 and 3, it is aconvenient way of expressing a relationship between two variables in terms of aprescribed mathematical rule. More formally, we have the

The Exponential and Logarithmic Functions [ad_1] IntroductionAn important class of nonlinear functions that is of particular interest in economicscomprises the exponential and logarithmic functions. These functionsare useful for investigating problems associated with economic growth and decayand mathematical problems in finance such as the compounding of intereston an investment or the depreciation of an asset. For