Objectives: Math 211

Chapter 1

• Be able to draw typical linear cost and revenue curves, know what goes on each axis, and be able to interpret slope and intercepts, and intersection.
• Be able to draw typical linear supply and demand curves, know what goes on each axis, and be able to interpret intercepts, and intersection.
• Given cost and revenue functions, find the break point, find the fixed costs, the price and the marginal cost.
• Given supply and demand curves, find the price that is too low for suppliers, the cost that is too high for consumers, the quantity of the good that is demanded when the price is free, and the equilibrium price and quantity.
• Find the new equilibrium when taxes or subsidies (specific or sales) are imposed on the consumer or supplier.
• Solve exponential functions with logarithms. Know rules for logarithms and exponentials.
• Convert between growth factor, annual percentage increase, and continuous compounding rate.

Chapter 2

• Know formula for difference quotient.
• Describe difference between average rate of change between two points and instantaneous rate of change at a point: slope of secant line versus slope of tangent line.
• Derive formula for local linear approximation.

Chapter 3

• Know how to compute derivatives of sums of polynomials power laws, and exponential functions, and logarithmic functions.
• Know the derivative of a sum is the sum of the derivatives.
• Know the derivative of a constant multiple is the constant multiple of the derivative.
• More to come....