ECO201_Lec 2_19 May

# ECO201_Lec 2_19 May - ECO201 Section 2 Lecture 2 Domain and...

This preview shows pages 1–6. Sign up to view the full content.

ECO201 Section 2 Lecture 2

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Domain and Range: Problem Types of Function Constant Function: Range consists of only one element Polynomial Function: Multi term function Linear Quadratic Cubic Slope and intercept 10 . 10 ) ( = = = y e i x f y n n x a x a x a x a a y + + + + + = ........ 3 3 2 2 1 0
Rational Function: Expressed as a ratio of two polynomial functions. A common example in economics is the rectangular hyperbola Functions of Two or more independent variable: Graphical representation 2 ) 1 ( 1 + - = x x y a xy or x a y = = by ax z or y x f z + = = ) , (

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Equilibrium In our context ‘it is a constellation of selected interrelated variables so adjusted to one another that no inherent tendency to change prevails in the model which they constitute’. A set of variables constitute a set of equations- they are said be in equilibrium if they are in a state of rest.
Selected variables: the analyst choose to include in the model but there could be other variables,

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

## This note was uploaded on 04/24/2011 for the course ECON 201 taught by Professor Takrimasyeda during the Fall '08 term at BRAC University.

### Page1 / 8

ECO201_Lec 2_19 May - ECO201 Section 2 Lecture 2 Domain and...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online