Chapter 3 M 1
Chapter 3 M 1
Chapter No.: 3
Class: BSc
Subject: Mathematics-1
E-Mail: [email protected]
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Important Points:
d
3) (ax) = a ; (Where a is any real number)
dx
d
4) (x n ) = nx n−1 ; (Where n is any real number)
dx
d
5) (ax n ) = anx n−1 ; (Where a and n are any real numbers)
dx
d d d
6) (u + v) = (u) + (v) ; (Where u and v are any functions of x)
dx dx dx
d d d
7) (u − v) = (u) − (v) ; (Where u and v are any functions of x)
dx dx dx
d d d
8) (uv) = u (v) + v (u) ; (Where u and v are any functions of x)
dx dx dx
d d
[v (u)−u (v)]
9) (u⁄v) = dx [v]2 dx
d
; (Where u and v are any functions of x)
dx
d
10) (ex ) = ex
dx
3.4) Optimisation:
(i) Critical points: The derivative is very useful for finding the maximum or
minimum value of a function that is, for optimisation. the derivative 𝐟 / (𝐱) may
be interpreted as a measure of the rate of change of f at x. It follows from this that
we can tell whether a function is increasing or decreasing at a given point, simply
by working out its derivative at that point.
If 𝐟 / (𝐱) > 0, then f is increasing at x.
If 𝐟 / (𝐱) < 0, then f is decreasing at x.
At a point c for which 𝐟 / (𝐜) = 0 the function f is neither increasing nor
decreasing: in this case we say that c is a critical point (or stationary point) of f. It
must be stressed that a function can have more than one kind of critical point. A
critical point could be a local maximum, a local minimum, or an inflexion point,
which is neither a local maximum nor a local minimum.
(iii) Nature of Critical Point (s), (2’nd Method, 2’nd Derivative Rule): There is
another way of classifying critical points. Let's think about a local maximum
point c as described above. Note that the derivative 𝐟 / is decreasing at c (since it
goes from positive, through 0, to negative), so the derivative of the derivative 𝐟 //
is negative at c. We call the derivative of 𝐟 / the second derivative of f, and denote
𝒅𝟐 𝒚
it by 𝐟 // (𝐱) or 𝟐 and this method is also called 2’nd derivative test and we can
𝒅𝒙
define it as follows:
If 𝐟 / (𝐚) = 𝟎 and 𝒇// (𝐚) < 𝟎, then x = a is a local maximum of f;
If 𝐟 / (𝐛) = 𝟎 and 𝒇// (𝐛) > 𝟎, then x = b is a local minimum of f;
If 𝐟 / (𝐜) = 𝟎 and also 𝒇// (𝐜) = 𝟎, then we cannot conclude the nature of
point and we apply Sign Change Rule.
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As far as the last point is concerned, there are two standard results here which are
useful.
First, the behaviour of a polynomial function is determined solely by its leading term,
the one with the highest power of x. This term dominates for x of large absolute value.
A useful observation is that if n is even, then 𝒙𝒏 → ∞ as 𝒙 → ∞ and also as → −∞ ,
While if n is odd, 𝒙𝒏 → ∞ as 𝒙 → ∞ and 𝒙𝒏 → −∞ as 𝒙 → −∞
i) FC = TC (0)
ii) TC = FC + V C
iii) AC = TC/q or TC = AC * q
iv) AVC = VC/q or VC = AVC * q
v) TR = p * q,
Note: We put the value of p in terms of q from demand equation
vi) For break-even points; we take, TR = TC
vii) AR = TR/q or TR = AR * q
𝐝 𝐝
viii) 𝐌𝐑 = (𝐓𝐑) and ix) 𝐌𝐂 = (𝐓𝐂)
𝐝𝐪 𝐝𝐪
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Exercise:
Differentiate the following with respect to x.
Q 1) y = 3x 2 + 4x − 1 Q 2) y = 2x 3 + 5x 2 − 4x + 9
5 1
6 1
Q 3) y = 3
− +3 Q 4) y = 2x 2 − 4x 2 − 6x + 8
x x
6 (1−x)(4x−1)
Q 5) f(x) = 4x 2 √x − Q 6) f(x) =
√x √x
Q 7) f(x) = (1 − x + x 2 )3 Q 8) f(x) = √x 2 + 2x + 2
1 2
Q 9) g(x) = √1 + √x Q 10) g(x) = (x 2 − 3x + 4) (1 − x)
2
1−2 sin x
Q 11) g(x) = 2 sin x + 3 cos x Q 12) g(x) =
cos x
𝐱+𝐞𝟐𝐱
Q 13) y = sin x cos 3x Q 14) y =
𝐞𝐱
3 Y
Q 23) Q = 0.85 √L2 + 3L Q 24) C = 425 + 1.2 ln ( )
Y+2
4
Q 25) P = + 5 ln(Q) Q 26) y = ln[(sin 2𝑥)(√𝑥 2 + 1)]
√Q
Determine the intervals along which each of the following curves is increasing or
decreasing.
Q 29) y = −x 2 + 4x + 9 Q 30) y = x 3
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Find the x-coordinates of the critical points of the following and classify the nature of
each point (that is, determine whether the point is a local maximum, local minimum or
inflexion).
Q 35) y = x 2 – 6x + 5 Q 36) y = x 2 + 4x + 3
Q 37) y = x 2 − 2x + 3 Q 38) y = 2x 3 − 9x 2 + 1
Q 39) A firm has total cost function 𝐓𝐂(𝐪) = 𝟓𝟎𝟎𝟎𝟎 + 𝟐𝟓𝐪 + 𝟎. 𝟎𝟎𝟏𝐪𝟐 . Find the fixed
cost FC, and the marginal cost MC. What is the marginal cost when the output is 100? What
is the marginal cost when the output is 10000?
Q 41) Assume that the price/demand relationship for a particular good is given by
𝐩 = 𝟏𝟎– 𝟎. 𝟎𝟎𝟓𝐪 Where p is the price ($) per unit and q is the demand per unit of time. Also
assume that the fixed costs are $100 and the average variable cost per unit is 𝟒 + 𝟎. 𝟎𝟏𝐪.
(a) What is the maximum profit obtainable from this product?
(b) What level of production is required to break even?
(c) What are the marginal cost and marginal revenue functions?
Q 42) The demand function relating price p and quantity x, for a particular product, is given
by 𝐩 = 𝟓𝐞𝐱𝐩(−𝐱⁄𝟐); Find the amount of production, x, which will maximise revenue from
selling the good, and state the value of the resulting revenue. Produce a rough sketch graph of
the total revenue function for 0 ≤ x ≤ 6.
Q 43) Suppose you have a nineteenth-century painting currently worth $2000, and that its
value will increase steadily at $500 per year, so that the amount realised by selling the
painting after t years will be 𝟐𝟎𝟎𝟎 + 𝟓𝟎𝟎𝐭. An economic model shows that the optimum time
to sell is the value of t for which the function 𝐏(𝐭) = (𝟐𝟎𝟎𝟎 + 𝟓𝟎𝟎𝐭)𝐞−𝟎.𝟏𝐭 is maximised.
Given this, find the optimum time to sell, and verify that it is optimal.
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𝟐𝟎
Q 44) A monopolist’s average cost function is given by 𝐀𝐂 = 𝟏𝟎 + + 𝐐 Her demand
𝐐
equation is 𝐏 + 𝟐𝐐 = 𝟐𝟎; where P and Q are price and quantity, respectively. Find
expressions for the total revenue and for the profit, as functions of Q. Determine the value of
Q which maximises the total revenue. Determine also the value of Q maximising profit.
𝟑𝟎𝟎
Q 45) A firm’s average cost function is given by − 𝟏𝟎 + 𝐐 and the demand function is
𝐐
given by 𝐐 + 𝟓𝐏 = 𝟖𝟓𝟎, where P and Q are quantity and price, respectively. Supposing that
the firm is a monopoly, find expressions for the total revenue and for the profit, as functions of
Q. Determine the value of Q which maximises the total revenue and the value of Q which
maximises profit.
Q 47) The output for a firm over time is given by the function,
𝐭 𝟑 𝐭 𝟐 𝟑𝐭
𝐐= − + + 𝟏𝟐𝟎
𝟑𝟎 𝟓 𝟏𝟎
Determine the years (t) in which output is at maximum and a minimum.
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The function 𝐟(𝐱) is defined for x > 0 by 𝐟(𝐱) = 𝐱 𝟐 − 𝐥𝐧(√𝟐𝐱). Find the minimum value of
𝐟(𝐱).
A firm is a monopoly for the good it produces. Its average variable cost function is
𝐀𝐕𝐂 = 𝐪𝟐 + 𝟒 and it had fixed costs 1. The demand equation for its good is given by
𝐪 = 𝟐𝟎 − 𝐩, where p is the price. Find the production level q that gives the maximum profit,
and find the maximum profit.
A monopoly experiences a demand q for its product that is related to its price by 𝐪𝐩𝟐 = 𝟏𝟔.
The cost to the company of supplying q units is 𝐪𝟐 . Determine the price and quantity when the
firm maximizes its profit.
A firm is a monopoly for the good it produces. Its average variable cost function is 𝐪𝟐 + 𝟒,
where q is the quantity it produces, and it has fixed costs of 20. The demand equation for its
good is given by 𝐩 + 𝐪 = 𝟐𝟎, where p is the price. Find expressions, in terms of q, for the
total revenue and profit. Determine the production level q that gives maximum profit.
Find the critical (or stationary) points of the function 𝐟(𝐱) = 𝐱 𝟑 𝐞−𝐱 . Determine the nature of
each critical point.
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The function f is defined, for 𝐱 > 0, by 𝐟(𝐱) = 𝐱 − 𝐱(𝐥𝐧 𝐱)𝟐 . Show that its critical (or
stationary) points satisfy the equation (𝐥𝐧 𝐱)𝟐 + 𝟐 𝐥𝐧 𝐱 − 𝟏 = 𝟎. By solving the quadratic
equation 𝐰 𝟐 + 𝟐𝐰 − 𝟏 = 𝟎, or otherwise, find the critical points. Determine the nature of
each critical point.
The function f is given, for 0 < x < 1, by 𝐟(𝐱) = 𝐱 𝐱 (𝟏 − 𝐱)(𝟏−𝐱) . Show that f has one critical
(or stationary) point between 0 and 1, and that this point is a local minimum.
A firm is a monopoly and it has fixed costs of 5 and average variable cost function
𝐪𝟒 − 𝐪 − 𝟓𝐪𝟐 . The demand equation for the good it produces is 𝐩 + 𝐪 = 𝟐𝟎, where p is the
selling price. Find an expression for the firm's profit, as a function of q, and determine the
production level that maximises the firm's profit.
A monopoly has fixed costs of 10 and average variable cost function 𝐪𝟐 + 𝟒. The demand
equation for its product is 𝐩 + 𝐪 = 𝟐𝟎. Determine. the profit function in terms of 𝐪.
Determine the production level that maximises the profit. Sketch a graph of the derivative of
the profit function for 𝐪 ≥ 𝟎.
l
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Answers:
𝑑𝑦 𝑑𝑦
Q 1) = 6𝑥 + 4 Q 2) = 6𝑥 2 + 10𝑥 − 4
𝑑𝑥 𝑑𝑥
3 −1⁄
𝑑𝑦 18 1 𝑑𝑦
Q 3) =− 4
+ Q 4) = 5𝑥 2 − 2𝑥 2 −6
𝑑𝑥 𝑥 𝑥2 𝑑𝑥
3 3 1 1 3
5 1
Q 5) f / (x) = 10𝑥 2 + 3𝑥 −2 Q 6) f / (x) = −6𝑥 2 + x −2 + 𝑥 −2
2 2
𝑥+1
Q 7) f / (x) = 3(2𝑥 − 1)(1 − 𝑥 + 𝑥 2 )2 Q 8) f / (x) =
√𝑥 2 +2𝑥+2
1 1 13
Q 9) g / (x) = Q 10) g / (x) = (1 − 𝑥) (−2𝑥 2 + 𝑥 − 7)
4√𝑥+𝑥 √𝑥 2 2
𝑠𝑖𝑛 𝑥−2
Q 11) g / (x) = 2 𝑐𝑜𝑠 𝑥 − 3 𝑠𝑖𝑛 𝑥 Q 12) g / (x) = (𝑐𝑜𝑠
𝑥)2
𝑑𝑦 𝑑𝑦 1−𝑥+𝑒 2𝑥
Q 13) = 𝑐𝑜𝑠 𝑥 𝑐𝑜𝑠 3𝑥 − 3 𝑠𝑖𝑛 𝑥 𝑠𝑖𝑛 3𝑥 Q 14) =
𝑑𝑥 𝑑𝑥 𝑒𝑥
𝑑𝑦 𝑑𝑦 sinx
Q 17) = (1 + 𝑙𝑛 𝑥)𝑥 𝑥 Q 18) = x sinx [ + (𝑙𝑛 𝑥)(𝑐𝑜𝑠𝑥)]
𝑑𝑥 𝑑𝑥 𝑥
𝑑𝑦 𝑑𝑦
Q 19) = (cosx)x [ln(cosx) − 𝑥𝑡𝑎𝑛𝑥] Q 20) = 3𝑥 2 + 6𝑥 𝑒𝑥𝑝(3𝑥 2 )
𝑑𝑥 𝑑𝑥
𝑑𝑦 −3𝑥 2 −10𝑥−9 𝑑𝑦 2 1
Q 21) = Q 22) = +3−
𝑑𝑥 (𝑥 2 +3𝑥+2)2 𝑑𝑥 𝑥 2(1+𝑥)3⁄2
𝑑𝑄 0.85(2𝐿+3) 𝑑𝐶 1 1
Q 23) = Q 24) = 1.2 [ − ]
𝑑𝐿 3(𝐿2 +3𝐿)2⁄3 𝑑𝑌 𝑌 𝑌+2
𝑑𝑃 2 5 𝑑𝑦 2𝑐𝑜𝑠2𝑥 𝑥
Q 25) =− + Q 26) = +
𝑑𝑄 𝑄 3⁄2 𝑄 𝑑𝑥 𝑠𝑖𝑛2𝑥 𝑥 2 +1
12−√12 12+√12
Q 32) At 𝑥 = , local minimum and at 𝑥 = , local maximum.
6 6
Q 36)
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Q 37)
Q 39) FC = 50000, the marginal cost is MC = 25 + 0:002q: The marginal cost is $25.2 if the
output is 100, but it rises to $45 if the output is 10000.
𝟏𝟎
Q 42) At 𝑥 = 2; TR is maximum and maximum revenue is . Sketching the curve between 0
𝒆
and 6, we obtain the following.
𝟏 𝟐
Q 46) 𝑻𝑹 = 𝟒𝟎𝑸 − 𝑸𝟐 ; 𝑴𝑹 = 𝟒𝟎 − 𝑸;
𝟑 𝟑
𝟏
𝑨𝑹 = 𝟒𝟎 − 𝑸;
𝟑
At 𝑸 = 𝟏𝟓, 𝑻𝑹 = 𝟓𝟐𝟓; 𝑴𝑹 = 𝟑𝟎; 𝑨𝑹 = 𝟑𝟓;
When 𝑨𝑹 = 𝟎 𝑸 = 𝟏𝟐𝟎
Q 51) 𝑥 = 1⁄2
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𝟐𝒒
Q 52) 𝑻𝑪 = 𝒒𝟑 + 𝟐𝒒𝟐 + 𝒍𝒏(𝒒𝟐 + 𝟏) + 𝟗 𝑴𝑪 = 𝟑𝒒𝟐 + 𝟒𝒒 +
𝒒𝟐 +𝟏
𝒒𝟑 𝒒𝟐
Q 53) ∏(𝒒) = − + + 𝟐𝟎𝒒 − 𝟒𝟎 Profit is maximum at 𝒒 = 𝟒
𝟐 𝟐
−𝟏⁄
Q 54) Minimum value of 𝒇(𝒙) is 𝟐𝒆 𝟐
𝟏⁄ 𝟏⁄ 𝟏
Q 59) Maximum Profit = 𝟐 (𝟏−∝) ∝ (𝟏−∝) (∝ − 𝟏)
Q 62) 𝐩 = 𝟖 and 𝐪 = 𝟏
The Graph of the derivative of profit function ∏/ = −𝟑𝐪𝟐 − 𝟐𝐪 + 𝟏𝟔 is shown on next page:
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𝟐−𝟐𝐫 𝟐 𝟐
Q 75) t = , Maximum Profit is ( ) 𝐞𝟐𝐫−𝟐
𝐫 𝐫
𝟐−𝐫 𝟐 𝟐
Q 77) t = , Maximum Profit is ( ) 𝐞𝐫−𝟐
𝐫 𝐫
The End
Good Luck