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 helloprajna October 16th, 2012 12:15 AM

application of differentiation in economics

How to solve this problem?
If x be the labour, y be its charges and $y=5x^2 -3x$
then how much charge will there be when we increase the labour by a small amount?
Is the answer like this:- dy= 10x-3dx ?

 MarkFL October 16th, 2012 12:29 AM

Re: application of differentiation in economics

If we use the differential as a linear approximate, we may write

$\frac{\Delta y}{\Delta x}\approx\frac{dy}{dx}$ hence:

$\Delta y\approx(10x-3)\Delta x$

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