11/1/2017 Rulesofcalculusfunctionsofonevariable

Rulesofcalculusfunctionsofonevariable

Derivatives:definitions,notation,andrules
Aderivativeisafunctionwhichmeasurestheslope.Itdependsuponxinsomeway,andisfoundby
differentiatingafunctionoftheformy=f(x).Whenxissubstitutedintothederivative,theresultisthe
slopeoftheoriginalfunctiony=f(x).

Therearemanydifferentwaystoindicatetheoperationofdifferentiation,alsoknownasfindingortaking
thederivative.Thechoiceofnotationdependsonthetypeoffunctionbeingevaluatedanduponpersonal
preference.

Supposeyouhaveageneralfunction:y=f(x).Allofthefollowingnotationscanbereadas"thederivative
ofywithrespecttox"orlessformally,"thederivativeofthefunction."

f'(x)f'y'df/dxdy/dxd/dx[f(x)].

[HINT:don'treadthelastthreetermsasfractions,readthemasanoperation.

Forexample,read:"dx/dy=3x"

As:"thefunctionthatgivestheslopeisequalto3x"

Let'strysomeexamples.Supposewehavethefunction:y=4x3+x2+3.

Afterapplyingtherulesofdifferentiation,weendupwiththefollowingresult:

dy/dx=12x2+2x.

Howdoweinterpretthis?First,decidewhatpartoftheoriginalfunction(y=4x3+x2+3)youare
interestedin.Forexample,supposeyouwouldliketoknowtheslopeofywhenthevariablextakesona
valueof2.Substitutex=2intothefunctionoftheslopeandsolve:

dy/dx=12(2)2+2(2)=48+4=52.

Therefore,wehavefoundthatwhenx=2,thefunctionyhasaslopeof+52.

Nowforthepracticalpart.Howdoweactuallydeterminethefunctionoftheslope?Almostallfunctions
youwillseeineconomicscanbedifferentiatedusingafairlyshortlistofrulesorformulas,whichwillbe
presentedinthenextseveralsections.

Howtoapplytherulesofdifferentiation
Onceyouunderstandthatdifferentiationistheprocessoffindingthefunctionoftheslope,theactual
applicationoftherulesisstraightforward.

First,someoverallstrategy.Therulesareappliedtoeachtermwithinafunctionseparately.Thentheresults
fromthedifferentiationofeachtermareaddedtogether,beingcarefultopreservesigns.[Forexample,the
sumof3xandnegative2x2is3xminus2x2.].

Don'tforgetthatatermsuchas"x"hasacoefficientofpositiveone.Coefficientsandsignsmustbe
correctlycarriedthroughalloperations,especiallyindifferentiation.

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Therulesofdifferentiationarecumulative,inthesensethatthemorepartsafunctionhas,themorerulesthat
havetobeapplied.Let'sstartherewithsomespecificexamples,andthenthegeneralruleswillbepresented
intableform.

Takethesimplefunction:y=C,andletCbeaconstant,suchas15.Thederivativeofanyconstanttermis
0,accordingtoourfirstrule.Thismakessensesinceslopeisdefinedasthechangeintheyvariablefora
givenchangeinthexvariable.Supposexgoesfrom10to11yisstillequalto15inthisfunction,anddoes
notchange,thereforetheslopeis0.Notethatthisfunctiongraphsasahorizontalline.

Now,addanothertermtoformthelinearfunctiony=2x+15.Thenextrulestatesthatwhenthexistothe
powerofone,theslopeisthecoefficientonthatx.Thiscontinuestomakesense,sinceachangeinxis
multipliedby2todeterminetheresultingchangeiny.Weaddthistothederivativeoftheconstant,whichis
0byourpreviousrule,andtheslopeofthetotalfunctionis2.

Now,supposethatthevariableiscarriedtosomehigherpower.Wecanthenformatypicalnonlinear
functionsuchasy=5x3+10.Thepowerrulecombinedwiththecoefficientruleisusedasfollows:pull
outthecoefficient,multiplyitbythepowerofx,thenmultiplythattermbyx,carriedtothepowerofn1.
Therefore,thederivativeof5x3isequalto(5)(3)(x)(31)simplifytoget15x2.Addtothederivativeofthe
constantwhichis0,andthetotalderivativeis15x2.

Notethatwedon'tyetknowtheslope,butrathertheformulafortheslope.Foragivenx,suchasx=1,we
cancalculatetheslopeas15.Inplainerterms,whenxisequalto1,thefunction(y=5x3+10)hasaslope
of15.

Theserulescoverallpolynomials,andnowweaddafewrulestodealwithothertypesofnonlinear
functions.Itisnotasobviouswhytheapplicationoftherestoftherulesstillresultsinfindingafunction
fortheslope,andinaregularcalculusclassyouwouldprovethistoyourselfrepeatedly.Here,wewantto
focusontheeconomicapplicationofcalculus,sowe'lltakeNewton'swordforitthattheruleswork,
memorizeafew,andgetonwiththeeconomics!Themostimportantstepfortheremainderoftherulesisto
properlyidentifytheform,orhowthetermsarecombined,andthentheapplicationoftheruleis
straightforward.

Forfunctionsthataresumsordifferencesofterms,wecanformalizethestrategyaboveasfollows:

Ify=f(x)+g(x),thendy/dx=f'(x)+g'(x).Here'sachancetopracticereadingthesymbols.Readthisrule
as:ifyisequaltothesumoftwotermsorfunctions,bothofwhichdependuponx,thenthefunctionofthe
slopeisequaltothesumofthederivativesofthetwoterms.Ifthetotalfunctionisfminusg,thenthe
derivativeisthederivativeoftheftermminusthederivativeofthegterm.

Theproductruleisappliedtofunctionsthataretheproductoftwoterms,whichbothdependonx,for
example,y=(x3)(2x21).Themoststraightforwardapproachwouldbetomultiplyoutthetwoterms,
thentakethederivativeoftheresultingpolynomialaccordingtotheaboverules.Oryouhavetheoptionof
applyingthefollowingrule.

Giveny=f(x)g(x)dy/dx=f'g+g'f.Readthisasfollows:thederivativeofywithrespecttoxisthe
derivativeoftheftermmultipliedbythegterm,plusthederivativeofthegtermmultipliedbythefterm.
Toapplyittotheaboveproblem,notethatf(x)=(x3)andg(x)=(2x21)f'(x)=1andg'(x)=4x.Then
dy/dx=(1)(2x21)+(4x)(x3).Simplify,anddy/dx=2x21+4x212x,or6x212x1.

Thequotientruleissimilarlyappliedtofunctionswherethefandgtermsareaquotient.Supposeyouhave
thefunctiony=(x+3)/(x2).Thenfollowthisrule:

Giveny=f(x)/g(x),dy/dx=(f'gg'f)/g2.Again,identifyf=(x+3)andg=x2f'(x)=1andg'(x)=2
andg2=x4.Thensubstitutein:dy/dx=[(1)(x2)(2)(x+3)]/x4.Simplifytody/dx=(x2+2x+6)/x4
.

Now,let'scombinerulesbytypeoffunctionandtheircorrespondinggraphs.
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Typeoffunction Formof Graph Rule Interpretation

function
y=constant y=C Horizontalline dy/dx=0 Slope=0
y=linearfunction y=ax+b Straightline dy/dx=a Slope=coefficient
onx
y=polynomialof y=axn+b Nonlinear,oneor dy/dx=anxn1 Derivativeisa
order2orhigher moreturning function,actual
points slopedependsupon
location(ievalueof
x)
y=sumsor y=f(x)+g(x) Nonlinear dy/dx=f'(x)+ Takederivativeof
differencesof2 g'(x). eachtermseparately,
functions thencombine.
y=productoftwo y=[f(x)g(x)] Typically dy/dx=f'g+g'f. Startbyidentifying
functions, nonlinear f,g,f',g'
y=quotientorratio y=f(x)/g(x) Typically dy/dx=(f'gg'f)/ Startbyidentifying
oftwofunctions nonlinear g2. f,g,f',g',andg2

Notsobasicrulesofdifferentiation
Therearetwomorerulesthatyouarelikelytoencounterinyoureconomicsstudies.Thehardestpartof
theserulesisidentifyingtowhichpartsofthefunctionstherulesapply.Actuallyapplyingtheruleisa
simplematterofsubstitutinginandmultiplyingthrough.Noticethatthetworulesofthissectionbuildupon
therulesfromtheprevioussection,andprovideyouwithwaystodealwithincreasinglycomplicated
functions,whilestillusingthesametechniques.

Thepowerfunctionrule:

Inthepreviousrules,wedealtwithpowersattachedtoasinglevariable,suchasx2,orx5.Suppose,
however,thatyourequationcarriesmorethanjustthesinglevariablextoapower.Forexample,

y=(2x+3)4

Inthiscase,theentireterm(2x+3)isbeingraisedtothefourthpower.Todealwithcaseslikethis,first
identifyandrenametheinnertermintheparenthesis:2x+3=g(x).Thentheproblembecomes

Now,notethatyourgoalisstilltotakethederivativeofywithrespecttox.However,xisbeingoperatedon
bytwofunctionsfirstbyg(multipliesxby2andaddsto3),andthenthatresultiscarriedtothepowerof
four.Therefore,whenwetakethederivatives,wehavetoaccountforbothoperationsonx.First,usethe
powerrulefromthetableabovetoget:

Notethattherulewasappliedtog(x)asawhole.Thentakethederivativeofg(x)=2x+3,usingthe
appropriaterulefromthetable:

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Notethechangeinnotation."g"isusedbecausewewerefindingthechangeing,withrespecttoachangein
x.Now,bothpartsaremultipliedtogetthefinalresult:

Recallthatderivativesaredefinedasbeingafunctionofx.Replacetheg(x)intheabovetermwith(2x+3)
inordertosatisfythatrequirement.Thensimplifybycombiningthecoefficients4and2,andchangingthe
power(41)to3:

Now,wecansetupthegeneralrule.Whenafunctiontakesthefollowingform:

Thentherulefortakingthederivativeis:

Thechainrule:
Thesecondruleinthissectionisactuallyjustageneralizationoftheabovepowerrule.Itisusedwhenxis
operatedonmorethanonce,butitisn'tlimitedonlytocasesinvolvingpowers.Sinceyoualready
understandtheaboveproblem,let'sredoitusingthechainrule,soyoucanfocusonthetechnique.

Giventhesameproblem:

renamethepartsoftheproblemasfollows:

and

Thentheentireproblemcanbeexpressedas:

Thistypeoffunctionisalsoknownasacompositefunction.Thederivativeofacompositefunctionisequal
tothederivativeofywithrespecttou,timesthederivativeofuwithrespecttox:

specificallyinourproblem:

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Recallthataderivativeisdefinedasafunctionofx,notu.Substitutein2x+3foru:

andtheproblemiscomplete.Theformalchainruleisasfollows.Whenafunctiontakesthefollowing
form:

Thenthederivativeofywithrespecttoxisdefinedas:

Updatedtableofderivatives
Let'saddthesetworulestoourtableofderivativesfromtheprevioussection:

Typeoffunction Formoffunction Graph Rule Interpretation

y=constant y=C Horizontalline dy/dx=0 Slope=0

y=linear y=ax+b Straightline dy/dx=a Slope=coefficient

function onx

y=polynomialof y=axn+b Nonlinear,oneor dy/dx=anxn1 Derivativeisa

order2orhigher moreturning function,actual
points slopedependsupon
location(i.e.value
ofx)

y=sumsor y=f(x)+g(x) Nonlinear dy/dx=f'(x)+g'(x). Takederivativeof

differencesof2 eachterm
functions separately,then
combine.

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y=productof y=[f(x)g(x)] Typically dy/dx=f'g+g'f. Startbyidentifying

twofunctions nonlinear f,g,f',g'

y=quotientor y=f(x)/g(x) Typically dy/dx=(f'gg'f)/g2. Startbyidentifying

ratiooftwo nonlinear f,g,f',g',andg2
functions

y=generalized Nonlinear Identifyg(x)

powerfunction

y=composite Nonlinear yisafunctionofu,

function/chain anduisafunction
rule ofx.

Specialcases
Therearetwospecialcasesofderivativerulesthatapplytofunctionsthatareusedfrequentlyineconomic
analysis.Youmaywanttoreviewthesectionsonnaturallogarithmicfunctionsandgraphsandexponential
functionsandgraphsbeforestartingthissection.

Naturallogarithmicfunctions

Whenafunctiontakesthelogarithmicform:

Thenthederivativeofthefunctionfollowstherule:

Ifthefunctionyisanaturallogofafunctionofy,thenyouusethelogruleandthechainrule.Forexample,
Ifthefunctionis:

Thenweapplythechainrule,firstbyidentifyingtheparts:

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Now,takethederivativeofeachpart:

Andfinally,multiplyaccordingtotherule.

Now,replacetheuwith5x2,andsimplify

Notethatthegeneralizednaturallogruleisaspecialcaseofthechainrule:

Thenthederivativeofywithrespecttoxisdefinedas:

Exponentialfunctions
Takingthederivativeofanexponentialfunctionisalsoaspecialcaseofthechainrule.First,let'sstartwith
asimpleexponentanditsderivative.Whenafunctiontakesthelogarithmicform:

Thenthederivativeofthefunctionfollowstherule:

No,it'snotamisprint!Thederivativeofexisex.

Ifthepowerofeisafunctionofx,notjustthevariablex,thenusethechainrule:

Thenthederivativeofywithrespecttoxisdefinedas:

Forexample,supposeyouaretakingthederivativeofthefollowingfunction:

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Definethepartsyandu,andtaketheirrespectivederivatives:

Thenthederivativeofywithrespecttoxis:

Updatedtableofderivatives
Nowwecanaddthesetwospecialcasestoourtable:

Typeof Formoffunction Graph Rule Interpretation

function
y=constant y=C Horizontal dy/dx=0 Slope=0
line
y=linear y=ax+b Straight dy/dx=a Slope=coefficient
function line onx
y=polynomial y=axn+b Nonlinear, dy/dx=anxn1 Derivativeisa
oforder2or oneormore function,actualslope
higher turning dependsupon
points location(i.e.valueof
x)
y=sumsor y=f(x)+g(x) Nonlinear dy/dx=f'(x)+g'(x). Takederivativeof
differencesof2 eachtermseparately,
functions thencombine.
y=productof y=[f(x)g(x)] Typically dy/dx=f'g+g'f. Startbyidentifying
twofunctions, nonlinear f,g,f',g'

y=quotientor y=f(x)/g(x) Typically dy/dx=(f'gg'f)/g2. Startbyidentifying

ratiooftwo nonlinear f,g,f',g',andg2
functions
y=generalized Nonlinear identifyg(x)
powerfunction
y=composite Nonlinear yisafunctionofu,
function/ anduisafunctionof
x.
chainrule
y=naturallog Naturallog Specialcaseofchain
function rule

y=exponential Exponential Specialcaseofchain

function rule

Higherorderderivatives
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Justasafirstderivativegivestheslopeorrateofchangeofafunction,ahigherorderderivativegivesthe
rateofchangeofthepreviousderivative.We'lltakmoreabouthowthisfitsintoeconomicanalysisina
futuresection,[link:economicinterpretationofhigherorderderivatives]butfornow,we'lljustdefine
thetechniqueandthendescribethebehaviorwithafewsimpleexamples.

Tofindahigherorderderivative,simplyreapplytherulesofdifferentiationtothepreviousderivative.For
example,supposeyouhavethefollowingfunction:

Accordingtoourrules,wecanfindtheformulafortheslopebytakingthefirstderivative:

Takethesecondderivativebyapplyingtherulesagain,thistimetoy',NOTy:

Ifweneedathirdderivative,wedifferentiatethesecondderivative,andsoonforeachsuccessivederivative.

Notethatthenotationforsecondderivativeiscreatedbyaddingasecondprime.Othernotationsarealso
basedonthecorrespondingfirstderivativeform.Herearesomeexamplesofthemostcommonnotationsfor
derivativesandhigherorderderivatives.

Function Firstderivative Secondderivative Thirdderivative

Nowforsomeexamplesofwhatahigherorderderivativeactuallyis.Let'sstartwithanonlinearfunction
andtakeafirstandsecondderivative.Recallfromprevioussectionsthatthisequationwillgraphasa
parabolathatopensdownward[link:graphingbinomialfunctions].

Function Firstderivative Secondderivative

Inordertounderstandthemeaningofderivatives,let'spickacoupleofvaluesofx,andcalculatethevalue
ofthederivativesatthosepoints.

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Valueofx Valueoffunctionat firstderivativeatx secondderivative

x atx
x=0

x=1

x=2

So,howdoweinterpretthisinformation?Whenxequals0,weknowthattheslopeofthefunction,orrate
ofchangeinyforagivenchangeinx(fromthefirstderivative)is6.Similarly,thesecondderivativetellsus
thattherateofchangeofthefirstderivativeforagivenchangeinxis2.Inotherwords,whenxchanges,
weexpecttheslopetochangeby2,ortodecreaseby2.Wecancheckthisbychangingxfrom0to1,and
notingthattheslopedidchangefrom6to4,thereforedecreasingby2.

Tosumup,thefirstderivativegivesustheslope,andthesecondderivativegivesthechangeintheslope.In
economics,thefirsttwoderivativeswillbethemostuseful,sowe'llstoptherefornow.

[Index]

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