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Critical Points

"Critical points are places where the derivative of a function is either zero or undefined. These critical points are places on the graph where the slope of the function is zero. All relative maxima a ...

Cost and Revenue

"One of the most important parts of economics is knowing the revenues and costs and how they relate to increased production. These can both be modeled by functions. These cost and revenue functions ca ...

Closed Interval Method

"The closed interval method is a way to solve a problem within a specific interval of a function. The solutions found by the closed interval method will be at the absolute maximum or minimum points on ...

Calculus Optimization Problems

"Some economics problems can be modeled and solved as calculus optimization problems. These problems usually include optimizing to either maximize revenue, minimize costs, or maximize profits. Solving ...

Maxima and Minima

"Finding relative maxima and minima of a function can be done by looking at a graph of the function. A relative maximum is a point that is higher than the points directly beside it on both sides, and ...

Marginal Cost and Revenue

"The marginal cost and marginal revenue are the additional amount of cost or revenue that arise from producing one more item. If you take the derivative of the cost and revenue functions, you get appr ...

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