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Economics

What is an optimization in the methods of mathematics of modern economics?

Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic models are based onto the solution of optimization difficulties.

Results of such subsection are used through the text. The fundamental optimization problem is about maximizing or minimizing a function onto some set. The fundamental and central result is the existence theorem of Weierstrass.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9581718

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