{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Math Review

# Math Review - IOWA STATE UNIVERSITY DEPARTMENT OF ECONOMICS...

This preview shows pages 1–2. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: IOWA STATE UNIVERSITY- DEPARTMENT OF ECONOMICS Math Review for Principles of Microeconomics Econ 101 Fall 2007 1 Functions of one variable One variable is a function of another if the &rst variable depends upon the second. y = f ( x ) in the above expression we are denoting y as a function of x. Therefore, we call x the independent variable and y the dependent variable. examples: y = x (linear function) y = 3 + 4 x (linear function) y = x 4 + 5 x 3 + 56 (non linear function) All straight lines (linear functions) have the same general representation with an equation of the form: y = a + bx a is then called the vertical intercept , because it marks the point where the graph of the equation hits the vertical axis; b is the slope of the line, which tells us how much Y changes every time X changes by one unit. (FIGURE A.3) One does not need a mathematical formula to convey the idea that one variable is a function of another, a table can also show this relationship. Advertising expenditures Sales (\$1,000 per month) (\$1,000 per month) 2 24 3 27 6 36 7 39 11 51 12 54 This table de&nes monthly sales as a function of monthly advertising expenditures. We can write it as sales = f ( advertising ) ....
View Full Document

{[ snackBarMessage ]}

### Page1 / 3

Math Review - IOWA STATE UNIVERSITY DEPARTMENT OF ECONOMICS...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online