Review for Final Exam Lecturer

نویسنده

  • Sangwook Kim
چکیده

∙ A function is a rule that assigns to each objects in a set A exactly one object in a set B. The set A is called the domain of the function. The set of assigned abjects in B is called the range. ∙ (Domain Convention) If a formula (or several formulas) is used to define a function f , then we assume that the domain of f to be the set of all numbers for which f(x) is defined. ∙ A demand function p = D(x) is a function that relates the unit price p for a particular commodity to the number of units x demanded by consumers at that price. The total revenue is R(x) = (number of items sold)(price per item) = xp = xD(x) If C(x) is the total cost of producing the x units, then the profit derived from their sale is P (x) = R(x)− C(x) = xD(x)− C(x).

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تاریخ انتشار 2010