Lecture 2 ECO201

Lecture 2 ECO201 - 2 1 1-= x x y A common economic function...

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Lecture 2 ECO201 Domain and Range: Problem Types of Function: Constant Function: Range consists of only one element 10 . 10 ) ( = = = y e i x f y Polynomial Function: Multi term function n n x a x a x a x a a y + + + + + = ........ 3 3 2 2 1 0 Linear Quadratic Cubic Graphical representation Slope and intercept Rational Function: Expressed as a ratio of two polynomial functions.
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Unformatted text preview: 2 ) 1 ( 1 +-= x x y A common economic function is the rectangular hyperbola a xy or x a y = = Functions of Two or more independent variable: by ax z or y x f z + = = ) , ( Equilibrium Models s d s d Q Q d c dp c Q b a bP a Q = +-=-= ) , ( ) , (...
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