Optimization in Economics
You may find it useful to print out the guided notes to fill in while watching the video.
One way can apply our knowledge of extrema is to use it to better understand our applications to Economics.
Let's look at a few more examples.
At the end of this section you should be able to answer the following questions:
- How can we find extrema of Cost, Revenue, and Profit Functions?
Check Your Understanding
You should try these problems before reviewing the solutions to
to these non-graded practice problems.