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CalcReview

# CalcReview - Econ 100A Intermediate Microeconomics...

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Econ 100A: Intermediate Microeconomics University of California, Santa Cruz January 2010

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Introduction Econ 100A: Intermediate Microeconomics Welcome to Econ 100A!!! Quarter : Winter 2009 Professor: Ryan Oprea Email: [email protected] Teaching Assistants :Mahir Binici, Aadil Nakhoda
Calculus Review In this course, we will be solving our problems with the help of some calculus. There are some basic rules that we all should know. Take a look at my calculus review sheet posted online. We will be mostly using the following in the course. Basic Di/erentiation Partial Di/erentiation Product Rule We di/erentiate a function in order to measure how much a function changes as a variable changes. In other words,we di/erentiate to obtain the rate at which a function changes when an input variable changes by one unit. Furthermore,di/erentiation is an important tool to use to determine tangency points.

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Some equations that may be useful to know. We can write our utility function (indi/erence curve) as: U ( x 1 , x 2 ) = x 4 1 x 5 2 (1) where x 1 and x 2 are two goods. Our production function as: f ( x 1 , x 2 ) = x 1 2 1 x 1 2 2 (2) where x 1 and x 2 are two inputs Now in order to solve the problems we will need to use di/erentiation.
Some equations that may be useful to know. A utility function will have a budget constraint associated with it: m = p 1 x 1 + p 2 x 2 (3) where p 1 and p 2 are the prices of goods 1 and 2 respectively. m is income. A production function will have a cost function (iso-cost line)

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CalcReview - Econ 100A Intermediate Microeconomics...

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