Math 161 Calculus I

Reading Outlines

You should answer these questions as you read the text.

Section 4.7

1. Give two examples of rate of change problems from your major field of study.
2. How was profit maximized in Example 1? Explain the process in words.
3. How is the marginal profit at q defined?
4. Explain the difference between the marginal profit and the derivative of the profit function. Why might economists be more likely to use marginal profit?
5. How many (numerical) variables can you come up with that might affect a grain trader's profit in the real world?