March 2013
Beginner
384 pages
8h 51m
English
Content preview from Managerial Economics For Dummies
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Chapter 3
Calculus, Optimization, and You
In This Chapter
Determining the best or optimal decision
Following the rules of calculus
Doing your best given constraints
I remember once seeing a quote, “Warning: The internet may contain traces of nuts.” Well, to be truthful, it’s probably a little more than traces. In any case, it is in that spirit that I say, “Warning: This chapter contains traces of calculus.”
Economic theories are frequently presented with graphs. But the relationships described on the graphs can also be presented mathematically — especially when problems involve optimization. Consumers maximizing satisfaction, firms minimizing cost, and firms maximizing profit are examples of topics that can be presented both graphically and mathematically. Because you may not be interested in learning how topics are presented mathematically, throughout the book I present them both ways. Remember, however, that the graphs and math are simply tools — they help you determine the best decision. Therefore, you should think of them as a simplification rather than a burden in the decision-making ...
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I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.