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FUNCTION and GRAPH

The document outlines a chapter on Functions and Graphs in an Introductory Mathematical Economics course, covering topics such as linear and nonlinear functions, inverse functions, and the concept of slope and intercept. It includes definitions and classifications of polynomials, as well as applications of functions in economics like demand, supply, and equilibrium equations. Additionally, it discusses graphing techniques for linear inequalities and various types of equations including quadratic, exponential, and logarithmic.

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12 views13 pages

FUNCTION and GRAPH

The document outlines a chapter on Functions and Graphs in an Introductory Mathematical Economics course, covering topics such as linear and nonlinear functions, inverse functions, and the concept of slope and intercept. It includes definitions and classifications of polynomials, as well as applications of functions in economics like demand, supply, and equilibrium equations. Additionally, it discusses graphing techniques for linear inequalities and various types of equations including quadratic, exponential, and logarithmic.

Uploaded by

mdemon1234emon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Course Title: Introductory Mathematical

Economics
Course Code: 0541 15 Math 1151

Chapter: Function and Graph

Conducted by:
Md. Mehedi Hasan
Lecturer
Economics Discipline, Khulna University

1
Chapter Outline
 Function, Inverse Function, Graphs of linear functions;

 Fitting linear functions;

 Slope;

 Budget constraints;

 Non-linear functions and Graphs – quadratic and cubic equation, Graph of inequality function, Graph of logarithmic
exponential and polynomial function;

 Composite functions;

 Functions with two independent variables;

 Summing functions horizontally. Use of equation and function in economics – demand, supply, cost, investment,
national income, production, income, savings, tax and equilibrium equation.

2
Polynomial
Poly means “many” and Nominal means “terms”. A polynomial is defined as an
expression which is composed of variables, constants and exponents, that are
combined using mathematical operations such as addition, subtraction,
multiplication and division (No division operation by a variable).
Based on the number of terms present in the expression, it is classified as monomial,
binomial, trinomial.

3
Inverse Function
Inverse function is represented by 𝑓 −1 with
regards to the original function f and the domain
of the original function becomes the range of
inverse function and the range of the given
function becomes the domain of the inverse
function. The graph of the inverse function is
obtained by swapping (x, y) with (y, x) with
reference to the line y = x.

4
Formula for the inverse

5
Slope

Slope measures the rate of


change in the dependent variable
as the independent variable
changes.
Mathematicians and economists
often use the Greek capital letter D
or delta as the symbol for change.
Slope shows the change in y or the
change on the vertical axis versus
the change in x or the change on the
horizontal axis.
6
Intercept
In Math, an intercept is a point on the y-axis,
through which the slope of the line passes. It
is the y-coordinate of a point where a
straight line or a curve intersects the y-axis.
This is represented when we write the
equation for a line, y = mx+c, where m is
slope and c is the y-intercept.

There are basically two intercepts, x-intercept


and y-intercept. The point where the line
crosses the x-axis is the x-intercept and the
point where the line crosses the y-axis is
the y-intercept.

7
Graphing Linear Inequalities

8
Nonlinear Function, Equation and Graph
A linear function is of the form f(x) = ax + b. Since a
nonlinear function is a function that is not a linear, its
equation can be anything that is NOT of the form
f(x) = ax+b. Some examples of nonlinear functions are:

 f(x) = x2 is nonlinear as it is a quadratic function.


 f(x) = 2x is nonlinear as it is an exponential function.
 f(x) = x3 - 3x is nonlinear as it is a cubic function.

9
Quadratic Equation

10
Exponential and Logarithmic Equations
An exponential equation is an
equation in which the variable
appears in an exponent.

A logarithmic equation is an
equation that involves the logarithm
of an expression containing a
variable. To solve exponential
equations, first see whether you can
write both sides of the equation as
powers of the same number.

11
Composite Function

12
Functions with two Independent Variables

13

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