With the use of a graphing utility, if possible, determine the left- and right-hand limits of the following function as
approaches 0. If the function has a limit as
approaches 0, state it. If not, discuss why there is no limit.
We can use a graphing utility to investigate the behavior of the graph close to
Centering around
we choose two viewing windows such that the second one is zoomed in closer to
than the first one. The result would resemble
[link] for
by
The closer we get to 0, the greater the swings in the output values are. That is not the behavior of a function with either a left-hand limit or a right-hand limit. And if there is no left-hand limit or right-hand limit, there certainly is no limit to the function
as
approaches 0.
A function has a limit if the output values approach some value
as the input values approach some quantity
See
[link] .
A shorthand notation is used to describe the limit of a function according to the form
which indicates that as
approaches
both from the left of
and the right of
the output value gets close to
A function has a left-hand limit if
approaches
as
approaches
where
A function has a right-hand limit if
approaches
as
approaches
where
A two-sided limit exists if the left-hand limit and the right-hand limit of a function are the same. A function is said to have a limit if it has a two-sided limit.
A graph provides a visual method of determining the limit of a function.
If the function has a limit as
approaches
the branches of the graph will approach the same
coordinate near
from the left and the right. See
[link] .
A table can be used to determine if a function has a limit. The table should show input values that approach
from both directions so that the resulting output values can be evaluated. If the output values approach some number, the function has a limit. See
[link] .
A graphing utility can also be used to find a limit. See
[link] .
Section exercises
Verbal
Explain the difference between a value at
and the limit as
approaches
The value of the function, the output, at
is
When the
is taken, the values of
get infinitely close to
but never equal
As the values of
approach
from the left and right, the limit is the value that the function is approaching.
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
Abdureman
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