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This book covers the concept of optimization techniques in managerial economics. It discusses solving economic problems using the substitution method and Lagrange multiplier method, understanding the concept of differential calculus, computing partial derivatives, and applying partial derivatives concepts in solving economic problems. The book also covers the process of economic optimization, which involves defining goals and objectives of the firm, identifying constraints, and analyzing alternatives available to decision makers.
#optimization techniques#economic problems#substitution method#lagrange multiplier method#differential calculus#partial derivatives#economic optimization
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