© Irfan Turk 2019
I. TurkPractical MATLABhttps://doi.org/10.1007/978-1-4842-5281-9_3

3. Economic Modeling

Irfan Turk1 
(1)
Nilufer, Bursa, Turkey
 

In this chapter, new functions that are used in the examples are first defined. Following that, simple and compound interest, percentage change, and cost, revenue, and profit topics are examined in different sections. Before the examples are presented, necessary formulas used in the solutions are explained in each section.

Preliminaries

In this section, new terminology used in this chapter is introduced. MATLAB has symbolic data types for calculations in algebraic equations as shown in Chapter 1. The diff(f,x) function takes the derivative of symbolic f with respect to x variable. As an illustration we can ...

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