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Econ171Integration - Worked Examples

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13 views6 pages

Econ171Integration - Worked Examples

.

Uploaded by

Sashina Grant
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Northern Caribbean University

Department of Professional & Continuing Education

(Kingston Campus)

ECON 171: BUSINESS AND ECONOMIC CALCULUS II


Basic Integration rules and application
Worked Examples

ANSWERS IN BOLD
Find the indefinite integral of:

#1

∫ x5 dx

= x5 +1 + c
5 +1

= x6 + c Ans
6

#2

∫ -10 dx

= -10x + c Ans

#3

∫ e2 dt

= e2t + c ANS

#4

∫8t2/3 dt
= 8 ∫ t2/3 dt
=8 (t2/3 + 3/3) + c
2/3 + 3/3
=8 (t5/3 ) + c
5/3

=(8)( 3/5) t5/3 + c

= 4 4/5t5/3 + c ANS

#5

∫x2(1 + x3) dx

=∫(x2 + x5) dx
= x2+1 + x5+1 + c
2+1 5+1

= x3/3 + x6/6 + c Ans

#6

∫ 1 – y2 dy
3y

∫ 1 - y2 dy
3y 3y

1 ∫ 1 dy– 1 ∫ y dy
3 y 3

= 1 ln‫׀‬y1 –‫ ׀‬y2 + c
3 32

1 ln‫׀‬y1- ‫ ׀‬y2 + c Ans


3 6

#7

∫( 6 – 2 + 1) dx
x4 x3

=∫( 6 x- 4 – 2 x-3 + 1) dx

= 6 x- 4+1 – 2 x-3+1 + 1x + c
-4+1 -3+1

= 6 x- 3 – 2 x-2 + x + c
-3 -2

= -2 x- 3 + x-2 + x + c Ans

= -2 + 1 +x+c
3 2
x x

#8

∫ x5 – 2x dx
x4

= ∫x5 dx - ∫2x dx
X4 x4

∫x dx -2∫ x-3 dx

= x2 – 2 x -2 + c
2 -2

= x2 + x -2 + c Ans
2
= x2 + 1 + c
2 x2

#9

a) Given the equation of the marginal cost function, C'(x) = 3x2 -24x +53, find the cost function
C(x) if fixed costs at zero output is $30,000.

b) What is the cost of manufacturing 4,000 units per month? 8,000 units per month?

Cost is in thousands of dollars and quantity, x, is in thousands of watches.


Solution

C(0) = $30,000 because at zero output that means x = 0.

The cost function is C(x) so first find C(x) which is the answer to part (a), then substitute 4,000 and 8,000
for x to get the answers to part (b).

To find a function we must integrate the derivative (gradient) of the function – this is the basic
principle of all integration application questions –no matter how complex it seems.
Hence to find C(x) we must integrate C'(x).

To find the cost function, C(x)


a) C(x) = ∫ C'(x) dx

C(x) = ∫ 3x2 -24x +53 dx

C(x) = 3∫ x2 dx -24∫x dx + ∫53 dx

C (x) = 3 x3 -24 x2 + 53x + c


3 2

C (x) = x3 -12x2 + 53x + c

But when x =0 , c(x) = 30 .Note: Since cost is in thousands of dollars, use 30 to represent $30,000.

Hence: C (0) = (0)3 -12 (0)2 + 53(0) + c = 30


c = 30 Warning: Do not assume that c is always the same as the initial condition, C(0).
It is the same in this case because the other terms in the equation
above are zero.

Therefore: C (x) = x3 -12x2 + 53x + 30 Ans

b) Cost of 4,000 watches

C (x) = x3 -12x2 + 53x + 30


C (4) = (4)3 -12(4)2 + 53(4) + 30 Note: Since quantity is in thousands of watches, use 4 to represent 4000
watches.
C (4) = 114

It costs $114,000 to manufacture 4,000 watches. Ans

Cost of 8,000 watches

C (x) = x3 -12x2 + 53x + 30


C (8) = (8)3 -12(8)2 + 53(8) + 30 Note: Since quantity is in thousands of watches, use 8 to represent 8000
C (8) = 198 watches.

It costs $198,000 to manufacture 8,000 watches. Ans


c) As an exercise, graph the cost function for values of x between 0 and 8.
d) Why do you think the cost function is steeper at both ends than in the middle?

#10
The population of a newly incorporated city is estimated to be growing at a rate of :

N '(t) = 400 + 600√t 0≤t≤9


where N(t) is the population t years after its incorporation.
If the population was 5,000 at the time of incorporation, find the population 9 years later.
Solution

N (0) = 5,000 because time can be taken as zero at time of incorporation of the city.

The population is N(t) so first find N(t), then substitute 9 for t to get the population 9 years later,

To find a function we must integrate the derivative (gradient) of the function – this is the basic
principle of all integration application questions –no matter how complex it seems.
Hence to find N(t) we must integrate N'(t).

N'(t) = 400 + 600√t


N(t) = ∫N'(t) dt

N(t) = ∫400 + 600√t dt

N(t) = ∫400 dt + 600∫√t dt

= ∫400 dt + 600∫t1/2 dt

= 400t + 600t1/2 +1 + c
½ +1

= 400t + 600t3/2 + c
3/2

= 400t + 600(2/3)t3/2 + c

N(t) = 400t + 400 t3/2 + c Note: An application question is not complete until you find the
value of c and substitute it in the function.
To find c
When t = 0, N(0)=5,000

N(t) = 400t + 400 t3/2 + c


Therefore N(0) = 400(0) + 400(0)3/2 + c = 5,000

c= 5,000 Warning: Do not assume that c is always the same as the initial
condition, N(0. )It is the same in this case because the other terms
in the equation above are zero.

Hence:
N(t) = 400t + 400 t3/2 + 5,000

What is the population 9 years later?

N(9) = 400(9) + 400(9)3/2 + 5,000 Note: (9)3/2 =(√9) 3 = (3) 3 = 27 or (9)3/2 = (9)1.5 = 27

N(9) = 400(9) + 400(27) + 5,000

N(9) = 3600 + 10,800 + 5,000

N(9) = 19,400

Nine years after incorporation of the new city the population will be 19,400. Ans

Prepared by: Andrew O. Hunter

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