Derivatives of Products and Quotients
The basic derivative formulas in Section 11.4 allow you to differentiate a wide variety of functions. However, many of the economic functions we would like to analyze are products or quotients. Revenue is the product of the quantity sold and the unit price. Average cost is the quotient of the cost and the quantity produced. To find the derivative of either of these functions, we’ll need rules for finding the derivative of products or quotients.
Read in Section 11.6
- How do you find the derivative of a product of two functions?
- How do you find the derivative of a quotient of two functions?
- What is an average cost function?
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