2.6: Applications of Derivatives
Have you wondered how a measure is impacted by the rate of another value? Have you wondered how to maximize the profits of selling an item or determine the minimum amount of cost to make this item? Those in the business of developing apps for smartphones analyze how much they can sell an app for as well as the cost of creating the app. These ideas determine whether the developer can proceed with the app development and sale of the product. There are many applications of derivatives that explore these concepts.
Subunit 2.6 highlights the applications of derivatives. The rate of change and related rates are problems where a given rate is changing; you are to find the rate at the value related to the changing rate. Optimization problems determine the maximum and/or minimum amount of a given scenario.