Jim Whitney Economics 102
 Computing derivatives

Names: ____________________      ____________________      ____________________

   1. For each of the following functions from problem set 1:
    (1) match the function with its most likely application in economics selected from the list below.
    (2) compute the derivative of the function
 

Function list Application
(1) y = -100 + .2x a. Production possibilities frontier 
    x = Clothing (C); y = Food (F)
(2) y = 100 - x2 b. Production function 
    x = Labor (L); y = Output (Q)
(3) y = 25 + 28x - 9x2 + x3 c. Total cost function 
    x = Output (Q); y = Total cost (TC)
(4) y = x0.5  d. Savings function 
    x = Disposable income (DY); y = Savings (S)
 
 
 
 
 
 
 
 
 
 
 
 
 
 


    2. Consider the following demand facing a monopolist:
            P = 100 - 2Q.
    a. Compute the monopolist's total revenue function
    b. Compute the monopolist's marginal revenue function
    c. Diagram the monopolist's demand and marginal revenue functions.