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Lagrangian function, 372-373, 377-378 in nonlinear programming, 726. 728 and saddle point, 742-743 Lancaster. K.. 663«. Laplace expansion. 95-98

by alien cofactors, 103-104 Latent root. 326n. Lavson, S.. 252

Least-cost combination. 418-421, 749-750 Leibniz, G. W., 130 Leontief. W. W., 115 L'Hopital's rule, 429-430 Limit, 132-135, 137-138 evaluation of, 136-137 left-side versus right-side, 133 of polynomial function, 146-147 Limit theorems, 145-146 Linear approximation: to a differential-equation system. 638-643 to a function, 258-260 Linear combination, 70

Linear dependence (see Dependence) Linear-equation system, 56, 86 Linear function, 24-25, 31 Linear programming. 652-653. 656-657, 661-664

in relation to input-output model, 709-711 in relation to nonlinear programming, 720-721, 743 Linearization (see Linear approximation) Liquidity function, 221 In, 283

Local stability analysis, 639-643 Log (see Logarithm) Log-function rule: of differentiation, 292, 293, 295 of integration, 440 Logarithm, 282 common versus natural, 283-284 conversion formulas. 286 and elasticity, 304-305 rules of, 284-286 Logarithmic function. 287-290

Machlup, F., 35n., 435«. Maclaurin series, 254-256 convergent, 275 of cosine function, 519-520 of exponential function, 275 with remainder, 259 of sine function, 519 McShane. E. J., 266n. Mapping, 21 Marginal cost: in relation to average cost, 167-168 in relation to total cost, 131-132, 161, 458-159

Marginal physical product, 171, 176, 209

diminishing, 362, 497 Marginal propensity to consume, 52, 181, 553 Marginal propensity to import, 221 Marginal propensity to save, 221, 459 Marginal rate of substitution, 401 Marginal rate of technical substitution, 210, 419

and elasticity of substitution, 425«. Marginal revenue: in relation to average revenue, 164-166 upward-sloping, 252-253 Marginal revenue product, 171 Marginal utility, 195, 400

of monev, 401 Market models, 36-43. 46-49, 113, 215 comparative statics of, 178-181, 215-220 dvnamics of, 475-479, 529-532, 561-569, 573-575 Mathematical economics, 3, 5 Matrix, 56-57 addition and subtraction, 76-77 characteristic, 326 equality, 58 factoring of, 100 inversion, 105-107 laws of operations on, 76-78 lead versus lag, 60 multiplication, 60-62, 65-66. ll-'b nonsingular. 84, 90-91, 101-102 scalar multiplication of, 59 singular, 81, 84 Maximand, 661

Maximum (see Extremum) Mean-value theorem, 261 Metric space, 74 Minhas, B. S., 426«. Minimand, 662 Minimum (see Extremum) Minor. 95 principal, 322, 324. 325. 333 bordered. 384-385 Mirror images:

in bordered Hessian. 386 in exponential and log functions, 288-289 in inverse functions. 173 in symmetric matrix, 82-83 in time paths, 560 Modulus. 142. 513 Monetary policy. 221. 537. 592 Money: demand for, 221 illusion. 409 marginal utility of. 401 Monotonic function. 171-173 Multiplier: export, 222

government-expenditure. 182 income-tax-rate. 182 interaction of, with accelerator, 585-590 Lagrange (see Lagrange multiplier) nonincome-tax, 182 Multiproduct firm. 353-356. 364-365

National-income models, 52-53. 113-114.

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