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Math Review 1

Math Review 1 - Math Review Handout#1 EQUATIONS IN 20...

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Math Review Handout #1 EQUATIONS IN 20 SECONDS Donna Park Principles of Economics Note: This handout is NOT a rigorous mathematical treatment of equations. Its purpose is simply to remind people of material that they should have covered in junior high math. An equation is a mathematical form that illustrates two numerical values that are equal. For example, 2 2 = It is obvious that this equation states that a value of 2 is equal to any other value of 2. Variables Variables are often incorporated into equations. For example, 2 x = This equation states that the value of the variable x is equal to 2. If I said that the variable x stood for the quantity demanded measured in tons, then the previous equation states that the quantity demanded is 2 tons. Note: The equations 2 x = and x 2 = are equivalent, they both give exactly the same information. Often I will refer to a variable as an unknown (its value is unknown until we solve the equation).

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