Derivatives
Definition of Derivative of 𝑓(𝑥)
1|Pa ge
2|Pa ge
3|Pa ge
4|Pa ge
5|Pa ge
6|Pa ge
7|Pa ge
8|Pa ge
9|Pa ge
10 | P a g e
11 | P a g e
12 | P a g e
13 | P a g e
14 | P a g e
15 | P a g e
16 | P a g e
17 | P a g e
18 | P a g e
EXERCISE
1. Given the total-cost function C = Q3 − 5Q2 + 12Q + 75, write out a variable-cost
(VC) function. Find the derivative of the VC function, and interpret the economic
meaning of that derivative.
2. Given the average-cost function AC = Q2 − 4Q + 174, find the MC function. Is the
given function more appropriate as a long-run or a short-run function? Why?
19 | P a g e
20 | P a g e