Basically it would be great if someone could recommend me a book to help me with economics with maths. The sort of areas I need the book to cover are:
-Demand/Supply functions
-Linear Equations
-Marginal Functions
-Productions/consumptions etc.
-Calculating MSC, externalities, deadweight,,,,
and so on.
Also something which would explain how to do these types of questions:
Let the Total Cost of production be TC = 100 + Q2, and the Marginal Cost of production be MC = 2 Q, where Q is the output.
(i) Determine the Average Total Cost. What will be the industry price in the long-run equilibrium? How much will be produced by each firm in the industry? (10 marks)
(ii) Let the demand for the good be Q = 5000 – 50 P, where P is the price of the good and Q the quantity demanded. What is the industry output in the long-run equilibrium? How many firms will there be in the industry? (10 marks)
(iii) Suppose that demand now shifts to Q = 6000 – 50 P, and that it is not possible to manufacture more output than the output determined in (ii). What is the new equilibrium price of output? How much profit does a manufacturer earn in these conditions?
and:
Consider a monopolist who is faced with the inverse demand function P = 200 – 0.5 Q, where P is the price and Q is the output. The marginal cost of production is £50.
(i) Determine the profit maximizing quantity and the price that the monopolist would charge to consumers. (10 marks)
(ii) Determine the consumer, the producer, and the total economic surpluses at the monopoly outcome.
and:
Let the Marginal Cost of production of a good be MC = 10. The Marginal Private Benefit of the good is MB = 40 – Q, while the Marginal Social Benefit MSB = 50 – Q.
(i) If this market is organized competitively, what are the market equilibrium price and output? (10 marks)
(ii) Determine the consumer, the producer, and the total economic surpluses at the market equilibrium.
Its just to give you an idea but if you have any Recommendations it would be much appreciated! Thanks.
And I already have a book called
'Mathematics for economics and business' by Rebecca Taylor and Simon Hawkins. Which is okay but I would like something with more depth and better explanation!
-Demand/Supply functions
-Linear Equations
-Marginal Functions
-Productions/consumptions etc.
-Calculating MSC, externalities, deadweight,,,,
and so on.
Also something which would explain how to do these types of questions:
Let the Total Cost of production be TC = 100 + Q2, and the Marginal Cost of production be MC = 2 Q, where Q is the output.
(i) Determine the Average Total Cost. What will be the industry price in the long-run equilibrium? How much will be produced by each firm in the industry? (10 marks)
(ii) Let the demand for the good be Q = 5000 – 50 P, where P is the price of the good and Q the quantity demanded. What is the industry output in the long-run equilibrium? How many firms will there be in the industry? (10 marks)
(iii) Suppose that demand now shifts to Q = 6000 – 50 P, and that it is not possible to manufacture more output than the output determined in (ii). What is the new equilibrium price of output? How much profit does a manufacturer earn in these conditions?
and:
Consider a monopolist who is faced with the inverse demand function P = 200 – 0.5 Q, where P is the price and Q is the output. The marginal cost of production is £50.
(i) Determine the profit maximizing quantity and the price that the monopolist would charge to consumers. (10 marks)
(ii) Determine the consumer, the producer, and the total economic surpluses at the monopoly outcome.
and:
Let the Marginal Cost of production of a good be MC = 10. The Marginal Private Benefit of the good is MB = 40 – Q, while the Marginal Social Benefit MSB = 50 – Q.
(i) If this market is organized competitively, what are the market equilibrium price and output? (10 marks)
(ii) Determine the consumer, the producer, and the total economic surpluses at the market equilibrium.
Its just to give you an idea but if you have any Recommendations it would be much appreciated! Thanks.
And I already have a book called
'Mathematics for economics and business' by Rebecca Taylor and Simon Hawkins. Which is okay but I would like something with more depth and better explanation!