MATH 111 Lecture Notes - Lecture 8: Marginal Cost

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1476- lecture 8- derivatives and rates of change, the derivative as a function. F (a) = limh 0 [ f(a+h) - f(a) ]/ h. F (a) = limx a [ f(x) - f(a) ]/ (x-a) The tangent line to y= f(x) at the point (a, f(a) ) is: The change in x is written as x. The change in y is written as y. Y= y2 - y1 = f(x2) - f(x1) The average rate of change with respect to x = y/ x. Lim x 0 ( y/ x) = lim x2 x1 [ f(x2) - f(x1) ]/ (x2 - x1) = f (x1) Derivatives can be used to calculate marginal cost. The cost of producing something is a downward facing power function (usually a quadratic) There is a maximum for that equation where there is the maximum amount of product being produced for the minimum cost possible. That point can be found using derivatives.

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