Some functions are defined by mathematical rules or procedures expressed in
equation form. If it is possible to express the function output with a
formula involving the input quantity, then we can define a function in algebraic form. For example, the equation
expresses a functional relationship between
and
We can rewrite it to decide if
is a function of
Given a function in equation form, write its algebraic formula.
Solve the equation to isolate the output variable on one side of the equal sign, with the other side as an expression that involves
only the input variable.
Use all the usual algebraic methods for solving equations, such as adding or subtracting the same quantity to or from both sides, or multiplying or dividing both sides of the equation by the same quantity.
Finding an equation of a function
Express the relationship
as a function
if possible.
To express the relationship in this form, we need to be able to write the relationship where
is a function of
which means writing it as
Does the equation
represent a function with
as input and
as output? If so, express the relationship as a function
First we subtract
from both sides.
We now try to solve for
in this equation.
We get two outputs corresponding to the same input, so this relationship cannot be represented as a single function
If we graph both functions on a graphing calculator, we will get the upper and lower semicircles.
Are there relationships expressed by an equation that do represent a function but that still cannot be represented by an algebraic formula?
Yes, this can happen. For example, given the equation
if we want to express
as a function of
there is no simple algebraic formula involving only
that equals
However, each
does determine a unique value for
and there are mathematical procedures by which
can be found to any desired accuracy. In this case, we say that the equation gives an implicit (implied) rule for
as a function of
even though the formula cannot be written explicitly.
Questions & Answers
differentiate between demand and supply
giving examples
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
