Mathematics for Economics

(FPMT0107)
WELCOME STUDENTS!
Materials Needed For Class

Department of Math & IT,

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Centre for Preparatory Studies,
Sultan Qaboos University

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Textbook Notebook Pen/Pencil Calculator Laptop/Tablet/Mobile

Presentation based on the new in-house material “Mathematics for Economics”
Mathematics for Economics
(FPMT0107)

Chapter#5
Exponential and Logarithmic Functions
In this chapter

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5.1 Exponential Functions ✅ We will discuss

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5.2 Logarithmic Functions ✅
5.3 Laws of Logarithms ✅
5.4 Exponential and logarithmic Equations ✅

Presentation based on the new in-house material “Mathematics for Economics”

 Mathematics for Economics (FPMT0107)
Chapter#5. Exponential and Logarithmic Functions
Section 5.4
Exponential and Logarithms Equations

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Objectives:

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In section 5.4 you will learn about: At the end there will be a

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1 What are the Exponential and Logarithms 4 Class Activity
Equations
2 How to use Exponential Equations 5 Homework

3 How to solve Logarithmic Equations Page#20-25 Exercise#5.4 Page#25

Presentation based on the new in-house material “Mathematics for Economics”

Mathematics for Economics (FPMT0107)
Exponential and Logarithms Equations
Exponential Equations: Equations involving exponential terms are called exponential
equations, in which the variable occurs in the exponent.
x 3 x 2 x 1 3 x 1
For example 2 7, 2 8 , 7 4
2 x 9
, 5 e  20 78 , 2x x
2e  e  1 0

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The variable x present in the exponent makes the equation difficult. To deal with
this difficulty, we take the logarithm on each side of the first three examples and
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then0010
0011 use the laws
1010 of logarithms
1101 0001 0100 to bring down x from the exponent.
1011

2 (3 x 2)
8 Apply log on both sides 3x log 2 log 8  2 log 2
log 2 (3 x 2)
log 8 log b  Ac  c log b A
log 8  2 log 2
x
3x  2 log 2 log 8 3log 2
Use
3x log 2  2 log 2 log8 x 0.3333
Mathematics for Economics (FPMT0107)

GUIDELINES FOR SOLVING EXPONENTIAL EQUATIONS

Isolate the exponential expression on one side of the equation.
Take the logarithm of each side, then use the Laws of Logarithm
to bring down the exponent.
Solve the equation for the variable.

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Example 1. Find the solution of the equation 3x2 7 rounded to 6 decimal places.

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Solution: x 2 log 7
3 7 x 2
log 3 Use
Apply log on both sides
log 3
x 2
  c log
log 7 log b A
c A
b x  0.228756
 x  2 log 3 log 7 Check your answer: Substituting x  0.228756
Divide both sides by log3
into the original equation and using
log 7 calculator, we get 6  2 )
x2  3(  0.22875
7
log 3
Mathematics for Economics (FPMT0107)
Exponential Equations
x 1
Example 2. Solve the equation 5 4 x . Round the answer to 5 decimal places.
x
Solution: Given equation 5 4 x + 1
Check your answer:
Substituting x 6.21257 into the original
x x +1
Take log on both sides log 5 log 4 equation and using calculator, we get

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log b  Ac  c log b A x log 5 ( x  1) log 4 5
6.21257
4
( 6.21257 1)

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x log 5 x log 4  log 4 21998.50108  21998.50108
Divide both sides
by log5 - log4 x log 5  x log 4 log 4 Hence, LHS RHS
x(log 5  log 4) log 4
Use
log 4
x  x 6.21257
log 5  log 4
Mathematics for Economics (FPMT0107)
Exponential Equations
3  2x
Example 3. Solve the equation e 4 . Round the answer to 5 decimal places.
3  2x
Solution: Given equation e 4 Check your answer:
3  2x
Substituting x 0.80685 into the original
Take ln on both sides ln e  ln 4 equation and using calculator, we get

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log b  Ac  c log b A (3  2 x) ln e  ln 4 e 3  2(0.80685)
4

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3  2 x  ln 4
Use the property Hence, LHS RHS
ln e 1 2 x  3  ln 4

3  ln 4 Use
x  x 0.80685
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Mathematics for Economics (FPMT0107)
Exponential Equations

Example 4. Solve the equation e 2 x  e x  6 0 .

Solution: Given equation e 2 x  e x  6 0
use a 
m n
a mn
e x 2 x
 e  6 0

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let y e x y 2  y  6 0
Factor it
 y  3 y  2  0

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 y  3 0 or  y  2  0 x
The equation e  2 has no solution
Use y 3 or y  2 because e x > 0 for all x.
x x
e 3 or e  2
Take Natural log
x  ln 3  1.0986 The only solution is x ln 3 1.0986.
Mathematics for Economics (FPMT0107)
Exponential Equations
x 1
Example 5. Solve the exponential equation 5 + (3)4 12
x1
Solution: Given equation 5+(3)4 12
x1 x 1
3 4
12  5 Isolate 4

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7

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x1
4  Take Natural log on both sides
3

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x1 7
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log b  Ac  c log b A
ln4 ln  
 3
Use  A
( x  1) ln 4 ln 7  ln 3 log b   log b A  log b B
 B
ln 7  ln 3
x 1 x 1.61120 Divide both sides by ln 4
ln 4
Mathematics for Economics (FPMT0107)
Logarithmic Equations

Equations involving logarithmic terms are called logarithmic equations, in

which the variable occurs. For example:
log 4 ( x  1) 2, 3  ln x 2, log 2 x  log 2 ( x  4) 2

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The variable x can be solved by first isolating and making single logarithmic term on

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one side of the equation then change the equation to exponential form and solve the

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equation.
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Recall the laws of Logarithms

log b  AB  log b A  log b B log b  Ac  c log b A

 A
log b   log b A  log b B
 B
Mathematics for Economics (FPMT0107)
Logarithmic Equations

Example 6. Solve the logarithm equation log 5 ( x  4) 3.

Solution: Given equation Check your answer:
log 5 ( x  4) 3 Substituting x 129 into the original

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equation and using calculator, we get

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Change to exponential
log 5 (129  4) 3

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3
form
x  4 5
log  A  c log A
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b b log 5 125 3 log 5 5 3
x  4 125
Use 3log 5 5 3 log 5 5 1
x 125  4
3 3
x 129
Hence, LHS = RHS
Mathematics for Economics (FPMT0107)
Logarithmic Equations

Example 7. Solve the logarithm equation 2  ln x 3

Solution: Given equation Check your answer:
2  ln x 3 Substituting x e into the original

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equation and using calculator, we get
ln x 3  2 2  ln e 3
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Change to exponential
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form
ln x 1 2  1 3 ln e 1
Use 1
x e 3 3
x e 2.71828 Hence, LHS = RHS
Mathematics for Economics (FPMT0107)
Logarithmic Equations
log b  AB  log b A  log b B
Example 8. Solve the logarithm equation log 9 ( x  5)  log 9 ( x  3) 1
Solution: Given equation Check your answer:
log 9 ( x  5)  log 9 ( x  3) 1 Substituting x 6 into the original

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equation and using calculator, we get
log 9 ( x  5)( x  3) 1

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Change to exponential
form log (6  5)  log 9 (6  3) 1

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9
 x  5  x  3 9
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1

2
log
Expand and factor it
9 1  log 9 9 1 log b 1 0
x  2 x  15  9 0
x 2  2 x  24 0 0  1 1 log b b 1
Hence, LHS = RHS
 x  6  x  4  0 Zero product property
x  6  0 or  x  4  0 x  4 is not a solution, because
x 6 or x  4 log 9 (  4  5)+log 9 (  4  3) are undefined.
Mathematics for Economics (FPMT0107)
Class Activity

Solve the exponential equation rounded to 4 decimal places.

1 5e 2 x 1
 2 23

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Answer

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a x 0.8495 b x 1.3050

c x 0.3047 d x 1.3047
Mathematics for Economics (FPMT0107)
Class Activity

Solve the exponential equation rounded to 4 decimal places.

2 x x
e  12e  1 0

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Answer

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a x 1.3736 b x  1.0986

c x 1.3863 d x 1.0986
Mathematics for Economics (FPMT0107)
Class Activity

Solve the logarithmic equation.

3 log 3 x  4  2 log x  log 2

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Answer

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a x 4 or x 2 b x  4 or x 2

c x  4 or x 2 d x 4
Mathematics for Economics (FPMT0107)

Homework
Dear Students: Please complete your homework.

Exercise#5.4, P#25

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Q# 1, 6, 7, 9, 10, 11, 16, 17, 21, 22, 24

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Thank You
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