APSC 1073 Lecture 1: 1300NotesF16Chap2
15 Mar 2017
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Let y = f (x) be a function. Meaning: if r(a, b) > 0, this function increases from x = a to x = b, and, if r(a, b) < 0, this function decreases from x = a to x = b. If | r(a, b) | is big, this function changes quickly from x = a to x = b, and, if | r(a, b) | is small, this function changes slowly from x = a to x = b. The average rate of change of the revenue function between q = a and q = b is the average revenue obtained by selling each unit of the product between q = a and q = b. The average rate of change of the cost function between q = a and q = b is the average cost needed for producing each unit of the product between q = a and q = b.
