Econ3020 - Derivatives of Functions

Econ3020 - Derivatives of Functions - Derivatives of...

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Derivatives of Functions A short re-cap for students of Managerial Economics at HPU
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Functions • Let’s look at the general function y = f(x) . We read this as “ y is a function of x ”. • This function tells us that the dependent variable y changes a certain way when we change the independent variable x .
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Derivatives Derivatives are a measure of rate of change . • The derivative of the function y = f(x) is the rate at which y is changing relative to x . • Sometimes we use the term “ slope instead of derivative
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Derivatives • If y increases as we increase x , we know that the derivative of the function y = f(x) is a positive number . • In this case we can also say that the slope of the function is positive. • Or we can say that the function is upward sloping, from left to right .
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• If y decreases as we increase x , we know that the derivative of the function y = f(x) is a negative number . • In this case we can also say that the slope of the function is negative . • Or we can say that the
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This note was uploaded on 03/30/2011 for the course ECON 3020 taught by Professor Lucas during the Spring '10 term at Hawaii Pacific.

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Econ3020 - Derivatives of Functions - Derivatives of...

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