Description
Mathematical Applications in Microeconomics
Book Summary
This book offers a practical guide to understanding the relationship between the technical and economic variables that determine a producer's success. Through an applied mathematical approach, the reader will learn how to calculate the optimal production quantity and the appropriate price to maximize profits, adapting the strategy to different market structures: perfect competition, monopoly, and oligopoly. An essential work for those seeking solid foundations in quantitative microeconomics.
What is it about?
The work addresses the central dilemma of any producing entity: deciding what quantity to manufacture and at what price to sell in order to obtain maximum profit. The author breaks down how these two variables must be calculated differently depending on the type of market in which one operates. Scenarios of perfect competition, monopoly, and oligopoly are analyzed, always starting from the key question: how does the market react and to what extent is it willing to acquire the good at a given price? The text advances knowledge of the interaction between technical-economic variables, offering tools to benefit both the producer and market equilibrium.
Main Topics
- Profit maximization through the calculation of optimal quantity and price.
- Analysis of market structures: perfect competition, monopoly, and oligopoly.
- Relationship between technical production variables and economic demand variables.
- Mathematical modeling applied to microeconomic decision-making.
- Pricing strategies based on elasticity and market willingness.
Who is it recommended for?
It is aimed at students and professionals in economics, business administration, and related fields who wish to delve into the practical application of mathematics to microeconomics. It is also useful for entrepreneurs and managers who need quantitative foundations to optimize production and pricing in their businesses.
What this book offers
- Provides a clear method for calculating the optimal combination of price and quantity in different market environments.
- Helps to understand how market structure conditions a producer's strategic decisions.
- Offers applied mathematical tools that facilitate data-driven decision-making.
- Allows for anticipating market reaction to changes in price or production.
Technical Data
- Author: Crespo Gutiérrez, Jesús María
- Publisher: PUNTO ROJO EDITORIAL
- Language: Spanish
- Topic: ECONOMY, FINANCE, BUSINESS AND MANAGEMENT, ECONOMY, ECONOMIC THEORY AND PHILOSOPHY, MICROECONOMICS
- Collection: PUNTO ROJO
- Binding: Paperback
- Edition date: June 2022
- Number of pages: 186
- Weight: 235 g
Editorial Review
This is a practical and analytical work that connects the theoretical foundations of microeconomics with their real-world mathematical application. Its focus on solving concrete production and pricing problems makes it a valuable resource for those seeking quantifiable results and strategies adapted to different types of markets. Recommended for readers with an interest in applied economics and business decision optimization.