Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,278 members, 7,822,371 topics. Date: Thursday, 09 May 2024 at 10:37 AM

Economics Mathematics - Education - Nairaland

Nairaland Forum / Nairaland / General / Education / Economics Mathematics (451 Views)

2015 Cowbell Mathematics Champion, Akinkuowo Honoured By School. / Possible MATHEMATICS Questions For 2015 Jamb Examination (2) (3) (4)

(1) (Reply)

Economics Mathematics by francis255: 1:55pm On Oct 05, 2012
how does mathematics makes the law of demand clearer
Re: Economics Mathematics by Nobody: 2:23pm On Oct 05, 2012
If you mean a Demand Function eg
Q=F(P)
The above expression means the quantity (q) demanded of a commodity depends on the price (P) of the commodity, although the price of the commodity isn'τ̅ the only factor that determines the quantity demand of a commodity, But when the Law of demand is τ̅☺ be expressed as a function other factors(Variable) are held constant such as price of related commodities, consumer income etc so the Price is the only thing considered for expressing the law of Demand, other factors are held constant under the 'Ceteris Paribus Assumption' Meaning other things being equal if a particular change occurs in the price it'll affect the Qty demanded by some units
Eg Q=100-10P the equation means for a unit change in price P there'll be 10 unit in quantity demanded, the above equation is a linear demand equation for Blade(Hypothetical).
Does this Help?

(1) (Reply)

Akungba Exams Starts On Dec. 3rd / UNN Lifts Ban On Students’ Unionism / Ibadanpoly Parttime Admission For Ds Year

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 6
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.