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Chapter 3 - Solutions
Chapter 3 - Solutions
3
1. Find the derivative /
(i)
/ 6
(ii) √
/
(iii) 8
/ 16
(iv) 4
/ 8
(v) 3 5
/ 72 3 5
(vi) ln 3 ln 3 2 ln
/ 2/
2. Use a combination of rules to find the derivatives of:
(i) 3 4 5
/ 3 4 5 24 4 5 3 4 5 12 5
(ii)
/
3. Investigate consecutive derivatives of 5
4 5 ; 12 5 ;
24 5 ; 24; 0, 5
4. Use implicit differentiation to find the derivative / for each of the following:
(i) 2 7 8 136
8 21 40 0
/
8 /
(ii) 5 21 6
15 5 21 30
/
/ 2/9
5. The total cost of producing q units of output is given by:
TC 3 6 100
(a) Find an expression for the firm’s marginal cost function
MC TC 6 6
(b) Find an expression for the firm’s average cost function
AC TC / 3 6 100/
(c) Evaluate the firm’s marginal and average costs when output equals 25 units.
MC 25 156; AC 25 85
(d) What is the value of output at which marginal and average costs equal?
6 6 3 6 100/
3 100; 10/√3 ≅ 5.8