4. Levels of Generality

Functions are important in every area of pure and applied mathematics, including mathematics applied to economics, finance and business. For example, the language of economic analysis is full of terms like demand and supply functions, cost functions, production functions, consumption functions, and so on. This week, we will present a discussion of functions of one real variable, illustrated by some economic examples. Remember- one variable is a function of another if the first variable depends upon the second.

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