Question

Define constant in mathematics in economic anlysis

Answer 1

Variables frequently appear in combination with fixed numbers or constants, such as in the expressions IP or 0.5R. A constant is a magnitude that does not change and is therefore the antithesis of a variable. When a constant is joined to a variable, it is often referred to as the coefficient of that variable.

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Answer 2

Variables frequently appear in combination with fixed numbers or constants, such as in the expressions IP or 0.5R.

A constant is a magnitude that does not change and is therefore the antithesis of a variable.

When a constant is joined to a variable, it is often referred to as the coefficient of that variable

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