Economy, asked by nenavathmohankumar, 2 months ago

Distinguish between the characteristics of first and second order difference equations. Give examples of economic problems that are solved with the help of each category of such equations.

Answers

Answered by shravanipsawant

0

Answer:

As for a first-order difference equation, we can find a solution of a second-order difference equation by successive calculation. The only difference is that for a second-order equation we need the values of x for two values of t, rather than one, to get the process started.

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