Functions, Basic

1.2 Functions

Covers same materials as Binmore's Calculus Chapter 2, Sections 2.1 to 2.6, much more detail

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1.1 - Basic Calculus

Covers Same materials Maths Study Guide Chapter 2 section 2.5 :)

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THE BEST EXPLANATION OF FUNCTION I FOUND SO FAR!!!!

Hey guys I hate functions to the "Nth Degree" The Schaum's text will correspond with Chapter 2.1 to 2.6 of Binmore's Calculus Book

To download click HERE, Use ID: uolexternalstudent and p/w lseexternal no need to register :)

Chapter 7 Functions & Their Graphs - Upload a Document to Scribd

Oxford User's Guide to Mathematics

This covers all the maths from basic algebra all the way up to calculus, stats, etc. So any time we have a question, this is a very valuable resource:

Oxford Users Guide to Mathematics - Upload a Document to Scribd

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Basic Mathematics for Economist

Basic Mathematics for Economists - Mike Rosser - Upload a Document to Scribd

Read this document on Scribd: Basic Mathematics for Economists - Mike Rosser

Inverse Demand Function

Inverse Demand Function = Amount manufacturers/companies are willing to produce/supply if the price were p, so if you look at the graph on the left, the higher the price the more the quantity supplied whereas in the demand (see post below) curve the lower the price the higher the demand.

Remember demand function was expressed as: qD q = quantity. And the formula is qDp (how many units will be sold at what price).



Quick Review before the example:
pD = inverse demand function
qD = deman function

qDp = how many consumers are willing to buy (demand) if price is p
pDq = how much suppliers are willing to produce/supply if price is p

Remember the last example:
6q+8p=125

In this case we want "p" (or express in p) on the left as opposed to "q"
6q+8p=125
-6q -6q

8p = 125-6q
pDq = 125-6q/8

Then let's substitute w/ 4 as in the last example

p = (125-6x4)/8
p = 125 - 24/8
p = 101/8

The Demand Set

q = quantity demanded
p = price

Demand Set D (in plain English) = It's the relationship between the price of an item to its demand, so if you look at the curve here, at p5 (price 5), the demand is 10, at p1, the demand is approximately 55. (q,p)

Demand Function = As p (price) changes, the q (Quantity demanded) changes as shown in the chart to the left. It is expressed mathematically as qD.

So the formula would be written as qDp

So for example, let's look at this problem:

6q+8p=125

Let's get q by itself (remember Algebra guys)

6q+8p=125
-8p -8p

Then we get:
6q = 125-8p

Then, let's divide each side by "6"
6q/6 = 125-8p/6

We finally get:

q = 125 - 8p/6
or
qDp = 125 - 8p/6

Remember p = price, and just use the substition formula if p = 4
qD(4) = (125 - 8X4)/6
(125-32)/6
93/6

therefore qDp = 93/6

dowling introduction to mathematical economics

Introduction to Mathematical Economics

Recommended Reading, Binmore's Calculus

Once again, gotta give mad props to Google Books:

Binmore's Calculus

Mathematics For Economics & Finance

For those of us who don't have the book yet, Google books uploaded a preview of this book:

Mathematics for Economics & Finance