Math for economyMM1005

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Lecturer: Eric Ahlqvist, eric.ahlqvist@math.su.se · Put “MM1005” in the subject line.

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Lecture 4 Exponentials, logarithms, and approximation
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4 Problems

Exponentials, logarithms, and approximation

The problems follow the sections of the theory. Those that are checked at once get new numbers each time you press New variant: repeat them until the rule runs by itself. Those with a solution are for paper. Write the whole solution before you open it, then compare line by line. Last come problems in the form of the exam, with points and a marking guide.

Typing an answer. Put an exponent or a denominator with more than one symbol in brackets: 5*3^(2x)*ln(3), -2x/(4-x^2). Write $\ln$ as ln and $e^{x}$ as e^x or exp(x). The preview under the box shows how your answer was read. Look at it before you press Check.

Three problems build the exam's implicit function step by step: the value $y(x_{0})$ from a cubic, then $y'(x_{0}),$ then $y''(x_{0}).$ The last one uses the addition in the section on implicit differentiation.

●○○ Basic●●○ Intermediate●●● Challenge Checked instantlySolution included

The exponential function, and why $e$

Read the theory: 1. The exponential function, and why $e$ →
Problem 4●○○ BasicSolution included

For each function, say first whether the variable is in the base, in the exponent, or nowhere. Then differentiate (for $x>0$).

(a) $x^{4}$

(b) $4^{x}$

(c) $e^{4}$

(d) $x^{\pi}$

(e) $\pi^{x}$

Hint

Watch out 4.3: ask which slot the variable is in before asking which rule applies. A power function takes the power rule (Fact 4.14), an exponential takes Fact 4.4.

Stuck? Read 1. The exponential function, and why $e$ →

The logarithm

Read the theory: 2. The logarithm →
Problem 5●●○ IntermediateSolution included

(a) Where is $f(x)=\ln\bigl(x^{2}-4x\bigr)$ defined? Find $f'(x).$ The formula for $f'$ is zero at $x=2.$ Does the graph of $f$ have a horizontal tangent there?

(b) Where is $g(x)=\ln\dfrac{x-1}{x+2}$ defined? Find $g'(x)$ with formula (4.2), and simplify.

(c) For $x>1$ one may first write $g(x)=\ln(x-1)-\ln(x+2).$ Check that this gives the same $g'.$ Why may this not be done for $x<-2?$

Hint

Watch out 4.6: the logarithm needs a positive argument. In (a) factor $x^{2}-4x;$ in (b) make a sign table for the quotient. Then use $\bigl(\ln h\bigr)'=h'/h.$

Stuck? Read 2. The logarithm →

Implicit differentiation

Read the theory: 3. Implicit differentiation →
Problem 11●●○ IntermediateSolution included

The curve $x^{2}+xy+y^{2}=12$ is an ellipse, tilted.

(a) Find $y'$ in terms of $x$ and $y.$

(b) At which points of the curve is the tangent horizontal?

(c) At which points does the formula for $y'$ break down, and what does the curve look like there?

Hint

Method 4.9; the term $xy$ needs the product rule. In (b), $y'=0$ gives a relation between $x$ and $y.$ Put it into the equation of the curve.

Stuck? Read 3. Implicit differentiation →
Problem 12●●● ChallengeSolution included

The ellipse $x^{2}+4y^{2}=8$ passes through $(2,1).$

(a) Find $y'$ by implicit differentiation.

(b) Differentiate once more and show that, at every point of the ellipse with $y\ne0,$ $$ y''=-\frac{1}{2y^{3}}\,. $$

(c) Find $y'(2)$ and $y''(2)$ on the half through $(2,1).$ Which way do the upper and the lower half of the ellipse bend?

Hint

(b) is the addition after Example 4.11. Differentiate $2x+8y\,y'=0,$ solve for $y'',$ insert $y'$ from (a), and at the end use the equation of the ellipse itself.

Stuck? Read 3. Implicit differentiation →

Logarithmic differentiation, and the power rule in general

Read the theory: 4. Logarithmic differentiation, and the power rule in general →
Problem 15●●● ChallengeSolution included

Let $y=x^{1/x}$ for $x>0.$

(a) Find $y'$ by logarithmic differentiation.

(b) Where is $y$ increasing and where is it decreasing? What is its largest value?

(c) Which is larger, $\sqrt{2}$ or $\sqrt[3]{3}?$ Decide with (b), without a calculator.

Hint

(a) $\ln y=\dfrac{\ln x}{x}.$ (b) Only one factor of $y'$ can change sign. (c) $\sqrt2=2^{1/2}=4^{1/4}.$ Where do $3$ and $4$ lie compared with $e?$

Stuck? Read 4. Logarithmic differentiation, and the power rule in general →

Linear approximation

Read the theory: 5. Linear approximation →
Problem 19●●○ IntermediateSolution included

(a) Use the linear approximation of $f(x)=\dfrac1x$ about a suitable point to estimate $\dfrac{1}{4.1}.$

(b) Use the linear approximation of $e^{x}$ about a suitable point to estimate $e^{-0.05}.$

(c) Without a calculator: is each estimate too high or too low? Give the reason.

Hint

Choose $a$ where $f(a)$ and $f'(a)$ are exact numbers (Fact 4.15). For (c), Fact 3.22 says where the tangents lie.

Stuck? Read 5. Linear approximation →

Taylor polynomials

Read the theory: 6. Taylor polynomials →

Mixed, as on the exam

Here the sections are mixed, and nothing says which rule to use. Write the solution on paper, with reasons, before you look.

Problem 22●●○ IntermediateSolution included

A firm produces $Q=\sqrt{K}\,\sqrt{L}$ units from $K$ units of capital and $L$ units of labour ($K,L>0$). Along the curve $\sqrt{K}\,\sqrt{L}=10$ the output is always $10,$ and $K$ is a function of $L.$

(a) Find $K$ when $L=4.$ Find $\dfrac{dK}{dL}$ by implicit differentiation, and its value at $L=4.$ What does the number say?

(b) Use the tangent line to estimate the capital needed for the same output when $L=4.2.$

(c) Find $\dfrac{d^{2}K}{dL^{2}}$ at $L=4$ by differentiating once more. Is the estimate in (b) too high or too low?

Hint

Write $K'$ for $\dfrac{dK}{dL}.$ The left-hand side is a product of $\sqrt K,$ whose derivative is $\dfrac{K'}{2\sqrt K}$ by the chain rule, and $\sqrt L.$

Stuck? Read 3. Implicit differentiation →
Problem 23●●● ChallengeSolution included

Let $f(x)=x^{x}$ for $x>0.$

(a) Find $f'(x)$ and $f''(x).$

(b) Find the Taylor polynomial of degree $2$ of $f$ about $a=1.$

(c) Use it to estimate $1.1^{1.1}$ and $0.9^{0.9}.$

Hint

(a) Example 4.13 gives $f'.$ For $f''$ use the product rule on $x^{x}\cdot(\ln x+1),$ and $f'$ again for the first factor.

Stuck? Read 6. Taylor polynomials →

As on the exam

4 problems · 33 p

Problems in exam form, with points. Solve them on paper or in the box. Then open the solution one step at a time and mark yourself against the rubric.

Exam problem 110 pComputeModel: 2021-09-28 Q3; 2023-10-31 Q4; practice exam 1 Q3 (a)–(b)

An implicit function: its value, its tangent, and which way it goes

The equation $$ y^{3}+xy+x^{2}=1 $$ defines $y$ as a differentiable function of $x$ near the point $x=2{:}$ $y=y(x).$

  1. (a)

    Find all possible real values of $y(2).$

    3 p
  2. (b)

    Find the equation of the tangent line to the curve at the point $\bigl(2,y(2)\bigr).$

    3 p
  3. (c)

    Is $y(x)$ increasing or decreasing near $x=2?$ Justify your answer. Then use the tangent line to estimate $y(2.1).$

    4 p

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Exam problem 210 pComputeModel: 2025-09-30 Q4; 2024-11-05 Q3; final 2026-09-28 Q3

An implicit function: Taylor polynomial of degree 2, and its shape

The equation $$ y^{3}+xy^{2}+x=3 $$ defines $y$ as a twice differentiable function of $x$ near the point $x=1{:}$ $y=y(x).$

  1. (a)

    Find all possible real values of $y(1).$

    3 p
  2. (b)

    Find the Taylor polynomial of degree $2$ of $y(x)$ about the point $x=1.$

    5 p
  3. (c)

    Is $y(x)$ increasing or decreasing near $x=1?$ Does its graph bend upwards or downwards there? Justify your answers.

    2 p

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Exam problem 38 pComputeModel: practice exam 2 Q3; 2024-10-01 Q3; 2022-09-28 Q3

An implicit function with an exponential, in one line

The equation $$ e^{y}+(x+1)\,y=x^{2} $$ defines $y$ as a twice differentiable function of $x$ near $x=1{:}$ $y=y(x).$

  1. (a)

    Find the Taylor polynomial of degree $2$ of $y(x)$ about $x=1.$

    7 p
  2. (b)

    Does the graph of $y(x)$ bend upwards or downwards near $x=1?$

    1 p

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Exam problem 45 pComputeModel: 2022-11-09 Q1; 2019-11-01 Q3 (b)

Taylor polynomials of a logarithm and of a root, and an estimate

Let $f(x)=\ln(1+2x)$ for $x>-\tfrac12,$ and $g(x)=\sqrt{4+x}$ for $x>-4.$

  1. (a)

    Find the Taylor polynomial of degree $3$ of $f$ about $x=0.$

    2 p
  2. (b)

    Find the Taylor polynomial of degree $2$ of $g$ about $x=0,$ and use it to estimate $\sqrt{4.2}.$

    3 p

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