FinalReview - Test 1 Material This sheet is fairly...

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Test 1 Material This sheet is fairly exhaustive of the course material but does not include all formulas. You will be allowed one sheet, front and back, for the final with anything you would like to put on it. Anything from this is allowed to be on the sheet, but the sheet MUST be handwritten and CANNOT be a photocopy. Section 1.1: Functions and Change (This will not be major on the test. All other concepts stem from this so do not focus much time studying on this but make sure you are comfortable with it.) What is a Function? Representations of Functions o Word description o Table in graph form o Formulas o Graphs o Tables Vertical/ Horizontal Intercepts o Importance Vertical Intercept is f(0) Horizontal Intercept is f=0 Section 1.2: Linear Functions Slope Intercept Form o y=mx+b m>0 line is increasing m<0 line is decreasing m=0 line has no slope Point Slope Form o y-y 1 =m(x-x 1 ) o m= 0 1 0 1 x x y y - - Graphing a Line o Find the slope then plug into slope intercept and solve for b Section 1.4: Applications in Economics Cost Function o C(q)= Total cost of producing q-amount of items = Fixed costs+ Variable Costs = b+mx Revenue Function o R(q)= Total money received from sale of q-amount of items = Price * q Profit Function o π (q)= Net money earned = R(q)- C(q) Break Even Point
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o R(q)= C(q) Depreciation Function Supply and Demand Curve Section 1.5: Exponential Function Change by percentage, not by amount like a linear function Population Function
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FinalReview - Test 1 Material This sheet is fairly...

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