Sec. 9.1 - Commerce Applications of the Derivative

Overview

This section covers various functions and their derivatives which appear frequently in commerce applications.

To prepare for class

• Watch the following videos (all created at CCSL):

• Do some experimentation with the following interactive applets:

  • Cost and Marginal Cost (Alex Kemphaus)
  • Total Revenue and Price Elasticity (Yung Lee, note there is a typo, it should say: “gain due to higher demand“)
  • Gini index (David Gurney)
  • Discrete Consumer Surplus (David Beydler)

  • Continuous Consumer surplus (David Beydler)

  • Total surplus (linear demand & supply) (Joel Hammer)

  • Continous Income Stream (Claire Blackman)

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