ECON 441: Introduction to Mathematical Economics
Lecture 9
A function \(y=f(x)\) is said to be continuous at \(a\) if \(\lim_{x \rightarrow a} f(x)\) exists and \[\lim_{x \rightarrow a} f(x) = f(a)\]
\[y = \begin{cases} 2x+1 & \text{if } x<1 \\ 2 & \text{if } x=1 \\ 2x+1 & \text{if } x>1 \end{cases}\]
In this example, the limit exists but the function is not continuous.
\(f'(x_0)\) exists if the following limit exists: \[f'(x_0)= \lim_{x \rightarrow x_0} \frac{f(x)-f(x_{0})}{x-x_0}\]
A function \(y=f(x)\) is continuous at \(x_0\) if \[\lim_{x \rightarrow x_0} f(x) = f(x_0)\]
Any connection?
Continuity is a necessary condition for differentiability, but it is not sufficient.
\(f\) is not continuous \(\Longrightarrow\) \(f\) is not differentiable
\(f\) is continuous \(\Longrightarrow\) \(f\) could be differentiable or not
\[y = |x|\]
This function is continuous but not differentiable.
Note: \(|x|\) represents the absolute value of \(x\). For example, \(|2| =2\) and \(|{-2}|=2\).
Rules of differentiation, easier than taking the limit each time
Constant function rule: for \(f(x)=k\), \(f'(x)=0\)
Power function rule: for \(f(x)=x^{n}\), \(f'(x)=n x^{n-1}\)
Generalized power function rule: for \(f(x)=c x^{n}\), \(f'(x)=c n x^{n-1}\)
Two or more functions of one variable
Sum-difference rule \[\frac{d}{d x}[f(x) \pm g(x)]=f'(x) \pm g'(x)\]
Product rule \[\frac{d}{d x}[f(x) g(x)]=f(x) g'(x)+f'(x) g(x)\]
Two or more functions of one variable
Quotient rule \[\frac{d}{d x} \frac{f(x)}{g(x)}=\frac{f'(x) g(x)-f(x) g'(x)}{g(x)^2}\]
Inverse function rule \[\frac{d x}{d y}=\frac{1}{d y / d x}\]
Functions of different variables
Chain rule: for \(z=f(y)\), \(y=g(x)\) \[\frac{d z}{d x}=\frac{d z}{d y} \cdot \frac{d y}{d x}=f'(y) g'(x)\]
Exercise 7.1: 3
Exercise 7.2: 3 (d), (e), 7, 8
Exercise 7.3: 1-6
Textbook reference: 6.7, 7.1-7.3
ECON 441 · Introduction to Mathematical Economics