Gr 11 Ch 22 Some mathematical tools used in Economics
Quiz by Chetna Thakkar
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Which of the following is a commonly used mathematical tool in economics?
Which of the following representsa linear equation?
The slope of a straight line iscalculated as
In a demand function, therelationship between quantity demanded (Q) and price (P) is typically:
What is the derivative of thefunction f(x) = x² with respect to x?
The concept of elasticity ineconomics is measured by:
If a function f(x) is increasing,its first derivative is:
Which mathematical tool is usedto determine the optimal level of production in economics?
The total cost function ineconomics is usually expressed as:
Which of the following is used tomeasure the central tendency in data?
The area under a curve in economics often represents:
The concept of marginal utilityis mathematically represented as:
In economics, what does theequation MR = MC represent?
A function where the output isdirectly proportional to the input is known as:
What does the concept of'marginal' mean in economics?
Which tool is used to find theequilibrium price and quantity in a market?
The elasticity of demand can berepresented mathematically by which of the following formulas?
Which of the following is anexample of a quadratic function?
In a two-variable linear model,the relationship between the independent variable and the dependent variablecan be plotted as a:
In economics, the use of mathematical models is primarily to: