MATH 150 Review

Lines

3.

y = mx + b

(slope-intercept equation of a line)

y = b is the equation of a horizontal line

The slope of a
nonvertical line is
given by the formula
y
m
x

Secant Lines
To calculate f(x) using a secant line approximation of the tangent line

1.
2.

f ( x h) f ( x)
h
Calculate the difference quotient
.
Let h approach zero.

f(a) =

lim

h 0

f ( x h) f ( x )
h
The quantity
will approach f(x).
f ( a h) f ( a )
h

Limit Theorems

lim f ( x)

Suppose that x a
following theorems.

lim g ( x)

and x a

both exist. Then we have the

Limit of a Polynomial Function

Let p(x) be a polynomial function and a any number. Then

lim p( x) p(a )
x a

Limit of a Rational Function

Let r(x) = p(x)/q(x) be a rational function where p(x) and q(x) are
polynomials. Let a be a number such that q(a) does not equal zero. Then,

lim r ( x) r (a )
xa

Derivative via Limits

The basic rules of differentiation are obtained from the limit definition of the
derivative. There are three main steps for calculating the derivative of a
function f(x) at x = a.

1.
2.
3.

f ( a h) f ( a )
h
Write the difference quotient
.
Simplify the difference quotient.
Find the limit as h approaches zero.

Continuity and Differentiability

We say that a function is continuous at x = a if its graph has no breaks or gaps
as it passes through the point (a, f(a)). If a function f(x) is continuous at x =
a, it should be possible to sketch its graph without lifting the pencil from the
paper at the point (a, f(a)).
If f(x) is differentiable at x = a, then f(x) is continuous at x = a.
A function f(x) is continuous at x = a provided the following limit relation
holds:

lim f ( x ) f (a )
xa

In order for this to hold, three conditions must be fulfilled.

1.

f(x) must be defined at x = a

lim f ( x)
2.

x a

must exist

lim f ( x)

3.

The limit x a

must have the value f(a)

Basic Rules for Differentiation

If we take the derivative of the velocity function v(t), we get what is called the
acceleration function
a(t) = v(t) = s(t)
Approximating the Change in a Function
Consider the function f(x) near x = a. We know that

f ( a h) f ( a )
f ' ( a)
h
When h is small, hf(a) is a good approximation to the change in f(x). In
applications, hf(a) is calculated and used to estimate f(a+h) f(a).
Marginal Cost
If we differentiate the function f(x), we obtain what is called the second
derivative of f(x), denoted f(x). So, we have

Economists often use the adjective marginal to denote a derivative.

If C(x) is a cost function, then the value of the derivative C(a) is called the
marginal cost at production level a. The number C(a) gives the rate at which
costs are increasing with respect to the level of production when the production is
currently at level a.

d
f ' ( x ) f ' ' ( x)
dx

Graphing
A relative maximum point is a point at which the graph changes from increasing
to decreasing.
A relative minimum point is a point at which the graph changes from decreasing
to increasing.
The maximum value of a function is the largest value that the function assumes on
its domain.
The minimum value of a function is the smallest value that the function assumes
on its domain.
Note: Functions might or might not have maximum and/or minimum values.
We say that a function is concave up at x = a if there is an open interval on the xaxis containing a throughout which the graph of f(x)lies above its tangent line.
We say that a function is concave down at x = a if there is an open interval on the
x-axis containing a throughout which the graph of f(x)lies below its tangent line.

Rates of Change
The average rate of change of f(x) over this interval is the change in f(x)
divided by the length of the interval.

An inflection point is a point on the graph of a function at which the function is

continuous and the concavity of the graph changes, i.e., goes from concave up to
concave down, or concave down to concave up.

average rate of change of f ( x) y f (b) f (a)

over the int erval a x b
x
ba

The x-intercept is a point at which a graph intersects the x-axis. (x,0)

The y-intercept is a point at which the graph intersects the y-axis. (0,y)

In the special case where b is a+h, the value of b a is (a + h) a or h, and the

average rate of change of the function over the interval is the difference
quotient

Graphs sometimes straighten out and approach some straight line as x increases
(or decreases). Theses straight lines are called asymptotes.

f ( a h) f ( a )
h

Asymptotes of a graph may be horizontal, vertical or diagonal.

First Derivative Rule

The derivative f(a) measures the (instantaneous) rate of change of f(x) at x =

a.

If f(a) > 0 then f(x) is increasing at x = a.

Motion, Velocity and Acceleration

If f(a) < 0 then f(x) is decreasing at x = a.

The average velocity from t = 2 to t = 2 + h is

Second Derivative Rule

dis tan ce traveled s (2 h) s ( 2)

time elapsed
h

If f(a) > 0, then f(x) is concave up at x = a.

If f((a) < 0, then f(x) is concave down at x = a.

If s(t) denotes the position function of an object moving in a straight line, then
the velocity v(t) of an object at time t is given by
v(t) = s(t)

Cost, Revenue and Profit

C(x) = cost of producing x units of a product
R(x) = revenue generated by selling x units of a product
P(x) = R(x) C(x) = the profit (or loss) generated by producing and selling x
units of the product.
R(x) = xp
The demand equation p = f(x) determines the total revenue function. If a firm
wants to sell x units, the highest price it can set is f(x) dollars per unit. The
revenue function becomes
R(x) = xp = xf(x)
More Rules for Differentiation
Product Rule

d
f ( x ) g ( x) f ( x ) g ' ( x ) g ( x ) f ' ( x )
dx

Look for possible relative extreme points of f(x) by setting f(x) = 0 and
solving for x.
Is the point a relative maximum point or a relative minimum point? How can
we tell?

Quotient Rule

d f ( x)
g ( x) f ' ( x) f ( x) g ' ( x)

dx g ( x)
g ( x ) 2

Check concavity at relative extreme point using second derivative.

Examine slope of nearby points on either side using the first
derivative.

Chain Rule

Look for possible points of inflection by setting f(x) = 0 and solving for x.

d
f ( g ( x )) f ' ( g ( x)) g ' ( x )
dx
1.
2.

When applying the chain rule, begin by identifying f(x) and g(x).
To differentiate f(g(x)), first differentiate the outside function f(x) and
substitute g(x) for x in the result. Then, multiply by the derivative of
the inside function g(x).

Alternate Notation for the Chain Rule

Given the function y = f(g(x)), set u = g(x) so that y = f(u). With this notation we
have y = f(u) and we note that

du
g ' ( x)
dx

and

dy
f ' (u ) f ' ( g ( x ))
du

Using this notation, the chain rule states that

dy dy du

dx du dx

Curves of the form y = ekx, where k is negative, have several properties in

common:

Related Rates
There are some applications where x and y are related by an equation, and
both variables are functions of a third variable t. Often the formulas for x and
y as functions of t are not known.
When we differentiate such an equation with respect to t, we derive a
relationship between rates of change
derivatives are related rates.

dy
dt

and

dx
dt .

We say that theses

Properties of Natural Logarithms

1.

The equation relating the rates may be used to find one of the rates when the
other is known.

2.
3.
4.
5.

Laws of exponents

The point (1,0) is on the graph of y = ln x [because (0,1) is on the

graph of y = ex]. So,
ln 1 = 0.
ln x is defined only for positive values of x.
ln x is negative for x between 0 and 1.
ln x is positive for x greater than 1.
ln x is an increasing function and concave down.

Differentiating Natural Logarithmic Functions

d
1
(ln x)
dx
x

Differentiating Exponential Functions

More Properties of Logarithms

Differential Equations
Suppose that y = f(x) satisfies the differential equation

More on Differential Equations

The y is an exponential function of the form

The function y = Cekt satisfies the differential equation

y = ky

Properties of Exponential Functions

Conversely, if y = f(t) satisfies the differential equation, then

Curves of the form y = ekx, where k is positive, have several properties in

common:

y = Cekt
for some constant C.
It is important to note that if f(t) = Cekt, then by setting t = 0, we have
f(0) = Ce0 = C
So, C is the value of f(t) at t = 0.

Functions for compound interest

Rules for Antidifferentiation

When interest is compounded continuously, the compound amount A(t) is an

exponential function of the number of years t that interest is earned
A(t) = Pert
and A(t) satisfies the differential equation
A(t) = r A(t)
Relative Rates of Change
Recall that the logarithmic derivative of a function f(t) is defined by the
equation
Constructing the (Riemann Sum) Rectangles

d
f ' (t )
ln f (t )
dt
f (t )

Given a continuous nonnegative function f(x) on the interval

The quantity on either side of this equation is often called the relative rate of
change of f(t) per unit change of t, since it compares the rate of change of f(t)
with itself.

1.

The percentage rate of change is the relative rate of change of f(t) expressed as
a percentage.

Divide the x-axis into n equal subintervals, where n is some positive

integer. This subdivision is called a partition of the interval from a to
b. The width of the entire interval is b a, so the width of each
subinterval is (b a)/n. We will denote this width as x.
x = (b a)/n

Elasticity of Demand

2.

In each subinterval, select a point (any point in the subinterval will

do). Let x1 be the point in the first interval, x2 be the point in the
second, etc. These points are used to form the rectangles that
approximate the area under the graph of f(x).

3.

Construct the first rectangle with height f(x1) and the first subinterval
as the base. The top of the rectangle touches the graph directly above
x1. Then,

The elasticity of demand E(p) at price p for the demand function q = f(p) is
defined to be

E ( p)

pf ' ( p)
f ( p)

Economists say that demand is elastic at price p0 if E(p0) > 1.

Economists say that demand is inelastic at price p0 if E(p0) < 1.

[area of first rectangle] = [height][width] = f(x1) x

The second rectangle rests on the second interval and has height f(x2).
Its area is

When demand is elastic at some price p0, E(p0) > 1 and 1 E(p0) is negative.
So, R(p0) is negative and R(p0) is decreasing. That is, an increase in price
will result in a decrease in revenue, and a decrease in price will result in
an increase in revenue.

[area of second rectangle] = [height][width] = f(x2) x

4.

When demand is inelastic at some price p0, E(p0) < 1 and 1 E(p0) is positive.
So, R(p0) is positive and R(p0) is increasing. That is, an increase in price
will result in an increase in revenue, and a decrease in price will result in a
decrease in revenue.

If we continue in this fashion, our estimate of the area under the graph
will be given by summing the area of these n rectangles
[area estimate] = f(x1) x + f(x2) x ++ f(xn) x

Antidifferentiation

or

Given a derivative F(x), we must find the function F(x). The process of
determining F(x) from F(x) is called antidifferentiation.

[area estimate] = [f(x1) + f(x2) ++ f(xn)] x

This sum is called a Riemann sum. It provides an approximation to
the area under the graph of f(x) when f(x) is nonnegative and
continuous

If F1(x) and F2(x) are two antiderivatives of the same function f(x), then F1(x)
and F2(x) differ by a constant. In other words, there is a constant C such that

As the number of subintervals increases indefinitely, the Riemann sums approach

a limiting valuethe area under the graph.

F2(x) = F1(x) + C
If F(x) = 0 for all x, then F(x) = C for some constant.

It can be shown that the Riemann sums still approach a limiting value as x
approaches zero. This number is called the definite integral of f(x) from a to b
and is denoted by

Suppose that f(x) is a function whose antiderivatives are F(x) + C. The

standard notation to express this fact is

f ( x)dx F ( x) C

The symbol

That is

a x b,

is called an integral sign, and the entire notation

f ( x)dx is called an indefinite integral and stands for the

antidifferentiation of the function f(x).

f ( x)dx

Area and the Definite Integral

Suppose that f(x) is continuous on the interval

a x b.

Then

is equal to the area above the x-axis bounded by the graph of y = f(x) from
x = a to x = b minus the area below the x-axis.
Fundamental Theorem of Calculus

[ f ( x) B] dx

where the quantity demanded is A and the price is B = f(A).

f ( x)dx

Suppose that f(x) is continuous on the interval

an antiderivative of f(x). Then

a x b , and let F(x) be

f ( x) dx F (b) F ( a)

This theorem connects the two key concepts of calculus the integral and the
derivative.
F(b) F(a) is called the net change of F(x) from a to b. It is represented
symbolically by

Area Between Two Curves

If y = f(x) lies above y = g(x) from x = a to x = b, then the area of the region
between f(x) and g(x) from x = a to x = b is

The Average Value of a Function

Let f(x) be a continuous function on the interval a x b . The definite
integral may be used to define the average value of f(x) on this interval.
The average value of a continuous function f(x) over the interval

a x b is defined as the quantity

1 b
f ( x)dx
b a a

Consumers Surplus
The consumers surplus for a commodity having demand curve p = f(x) is

Future Value of an Income Stream

The future value, of a continuous income stream, of K dollars per year for N
years at interest rate r compounded continuously is

Ke r ( N t ) dt

where C is any constant.