My Math Forum application of differentiation in economics

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 October 16th, 2012, 12:15 AM #1 Senior Member   Joined: Sep 2012 Posts: 112 Thanks: 0 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 ?
 October 16th, 2012, 12:29 AM #2 Senior Member     Joined: Jul 2010 From: St. Augustine, FL., U.S.A.'s oldest city Posts: 12,211 Thanks: 521 Math Focus: Calculus/ODEs 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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