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1 Overviewonthelecture - Exeter

BEE1020 Basic Mathematical EconomicsWeek 6, Lecture Tuesday properties of cost functions1 Overview on the lectureThe aim of this first lecture is to introduce on an intuitive level the notion of afunction1which is basic for all of calculus and some concepts associated with it. As illustrativeexamples we will considercost functionswhich are needed in microeconomics to discussthe behaviour of firms. At the end of this lecture you should have a basic idea of thefollowing concepts: functions and their domains, intervals the independent and the dependent variable the graph of a function linear and quadratic functions, polynomial functions the difference quotient the tangent and the slope increasing and decreasing functions convex and concave functions (upward and downward bowed) the first and t

BEE1020—BasicMathematicalEconomics Week6,LectureTuesday10.11.05 Geometric properties of cost functions 1 Overviewonthelecture The aim of this first lecture is to introduce on an intuitive level the notion of a function1

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