For any algebraic expressions
and
and any positive real number
where
if and only if
Definition of a logarithm
For any algebraic expression
S and positive real numbers
and
where
if and only if
One-to-one property for logarithmic functions
For any algebraic expressions
S and
T and any positive real number
where
if and only if
Key concepts
We can solve many exponential equations by using the rules of exponents to rewrite each side as a power with the same base. Then we use the fact that exponential functions are one-to-one to set the exponents equal to one another and solve for the unknown.
When we are given an exponential equation where the bases are explicitly shown as being equal, set the exponents equal to one another and solve for the unknown. See
[link] .
When we are given an exponential equation where the bases are
not explicitly shown as being equal, rewrite each side of the equation as powers of the same base, then set the exponents equal to one another and solve for the unknown. See
[link] ,
[link] , and
[link] .
When an exponential equation cannot be rewritten with a common base, solve by taking the logarithm of each side. See
[link] .
We can solve exponential equations with base
by applying the natural logarithm of both sides because exponential and logarithmic functions are inverses of each other. See
[link] and
[link] .
After solving an exponential equation, check each solution in the original equation to find and eliminate any extraneous solutions. See
[link] .
When given an equation of the form
where
is an algebraic expression, we can use the definition of a logarithm to rewrite the equation as the equivalent exponential equation
and solve for the unknown. See
[link] and
[link] .
We can also use graphing to solve equations with the form
We graph both equations
and
on the same coordinate plane and identify the solution as the
x- value of the intersecting point. See
[link] .
When given an equation of the form
where
and
are algebraic expressions, we can use the one-to-one property of logarithms to solve the equation
for the unknown. See
[link] .
Combining the skills learned in this and previous sections, we can solve equations that model real world situations, whether the unknown is in an exponent or in the argument of a logarithm. See
[link] .
Section exercises
Verbal
How can an exponential equation be solved?
Determine first if the equation can be rewritten so that each side uses the same base. If so, the exponents can be set equal to each other. If the equation cannot be rewritten so that each side uses the same base, then apply the logarithm to each side and use properties of logarithms to solve.
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
