The aim of the paper is to test possibility of an application of the Newton's approximation method to obtain solutions of classical problems in mathematical economics - determination of the demand function in the consumers theory and the demand function for production factors in the theory of the firm. As is well known, in most cases these functions are given implicitely as solutions of an optimization problem. The resulting implict relations only seldom can be resolved to yield a closed explicit form of solutions, what necessitates in use of approximation procedures to obtain a deeper insight into the nature of the solutions. We present here some results on computing these functions by means of the (multi-dimensional) Newton's method as well as discuss the questions concerning the speed of convergence of the approximating sequence.

1. FULLTEXT: On application of Newton's method for solving optimization problems in the consumers and production theory, Microsoft Office Document, 0.3MB
2. FULLTEXT: On application of Newton's method for solving optimization problems in the consumers and production theory, PDF document, version 1.2, 0.1MB

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