QUAN 101F
Basic Business
Mathematics
Lecture Schedule (Topic)
Basic Algebra
Solving Equations
Logarithms
Functions and Graph
Slope and Derivatives
Differentiation
Optimization
Financial Mathematics
Area and Integrals
Linear Algebra
Linear Programming
Asse
CHAPTER 5
Slope and Derivatives
QUAN 101F
Basic Business Mathematics
Slope and Derivatives
A.
Slope of straight lines
The slope of straight line () is represented by the
coefficient .
Thus, the slope also defined as the average rate
of change (change of p
APPLICATION OF
DIFFERENTIATION
A.Extremum
Problems
B.Rate of
Change
a)FindOBJECTIVES
the critical
points.
b)Find the relative
extemum by using the
First Derivative Test.
c)Find the relative
extemum by using the
Second Derivative
Test.
EXTREMUM PROBLEMS
1.
Quick Quiz
1a) Define the price elasticity of demand
The price elasticity of demand is a measure of how
much the quantity demanded of a good responds to
a change in a price of that good , computed as the
percentages change in quantity demanded divided
by
Quick Quiz 1
Draw a demand curve for prawns. In diagram , show the price of prawn
and the consumer surplus that results from that price . Explain in words
what this consumer surplus measures.
Price of Prawns
S
Explanation : The price of prawns per kg is
a
Chapter 6 Quick Quiz
1) Define price ceiling and price floor and
give an example of each , which leads to a
shortage? Which leads to a surplus ? Why?
Ans: A price ceiling is a legal maximum on the price at which a good can be sold
Examples of price ceilin
Chapter 4 Quick Quiz
(1A)WHAT IS A MARKET?
ANSWER: MARKET IS A GROUP OF BUYERS
AND SELLERS OF A PARTICULAR GOOD OR
SERVICE . THE BUYERS AS A GROUP
DETERMINE THE DEMAND FOR THE PRODUCT
, AND THE SELLERS AS A GROUP DETERMINE
THE SUPPLY OF THE PRODUCT.
(1B)W
Chapter 4 Quick Quiz
ANALYZE WHAT HAPPENS TO THE MARKET FOR
PIZZA IF THE PRICE OF TOMATOES RISES?
ANSWER: IF THE PRICE OF TOMATOES RISES, THE
SUPPLY CURVE FOR PIZZA SHIFTS TO THE LEFT
BECAUSE THERE HAS BEEN AN INCREASE IN THE
PRICE OF AN INPUT INTO PIZZA
What 2 thing does gross
domestic product in general?
How can it at once?
Gross domestic product measures two
thing at once: (1) the total income of
everyone in the economy and (2)the total
expenditure on the economys output of
final goods and services. It
Econ102D T1
1)What two things does gross domestic product
measure? How can it measure two things at once?
Answer: Gross domestic product measures two thing
at once are the total income of everyone in the
economy and the total expenditure on the economys
o
Econ 102D Tutorial 2
1a) What is the approximate growth rate of real GDP per person in the
United States? Name a country that has had faster growth and a country
that has had slower growth.
Answer:
The approximate growth rate of real GDP per person in the
WEEK 2
Solving Equations
WHAT IS EQUATION?
1)
An equation is a statement that two sides of expression
are equal. Both of expressions are separately by the equal
sign, .
Example of equation:
a)
b)
c)
d)
2) In solving an equation, operation are performed t