lecture5Student.pdf - Lecture 5 Unit 4 Differentiation(continued Outline 1 Introduction 2 Examples 3 Economic Applications MR and MC 4 Conclusion

# lecture5Student.pdf - Lecture 5 Unit 4...

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Lecture 5, Unit 4: Differentiation (continued) 18/2/2015 Outline 1 Introduction 2 Examples 3 Economic Applications: MR and MC 4 Conclusion Literature Renshaw, ch. 6 & ch. 13 (13.2-13.3) Introduction Last time we encountered the rules of differentiation Today we’ll apply these rules to find the derivatives of some functions We’ll also introduce the marginal revenue and marginal cost functions Example 1 Suppose that y = (4 x 2 - 3)(2 x 5 + x ). Find dy dx Example 2 Suppose that y = x 2 +1 1 - x 2 . Find dy dx Example 3 Suppose that y = ( x 2 - 2 x 3 ) 5 . Find dy dx Example 4 Suppose that y = 1 e x . Find dy dx Example 5 Suppose that y = ln 1 x . Find dy dx Economic Applications Two frequently encountered applications derivatives are: Marginal revenue function Marginal cost function Marginal revenue, MR: p. 233 Recall that total revenue is R = pq We often have to multiply demand curve/function by p (alternatively, multiply inverse demand curve/function by q) to obtain total revenue function  #### You've reached the end of your free preview.

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