Lectures on Maths for Economics & Managements

Hồ Ngọc Kỳ

Institute of Applied Mathematics, UEH

Email: kyhn@ueh.edu.vn
Webpage: https://orcid.org/0000-0002-1362-9321

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 1 / 18
Lecture 5: Functions of One Variable

CONTENT
(Chapters 10-13 of Textbook; Chương 3 & 4 trong sách Bài tập)

Functions and Graphs

Limits and Continuity

Differentiation

- Meaning of Derivative

- Techniques of Differentiation

- Applications
+ L’Hôpital’s Rule
+ Optimization Problem

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 2 / 18
Funtions and Graphs
Definition: A function f is a rule that assigns to each element x ∈ D exactly one
element y ∈ E , denoted by f (x) the value of f at x and is read “f of x”. We write

f : D −→ E .

+ The set D is called the domain of the function f .

+ The set f (D) := {f (x) : x ∈ D} is called the range of f .

+ x ∈ D: independent variable; y ∈ f (D): dependent variable.

+ The set {(x, f (x)) : x ∈ D} is called the là graph of f :

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 3 / 18
Fundamental functions

Power Functions y = x α

Exponential Functions y = ax .

Logarithmic Functions y = loga x.

Trigonometric Functions y = sin x, y = cos x, y = tan x, y = cot x,

1 1
sec x = , csc x = .
cos x sin x
Inverse Trigonometric Functions: y = arcsin x, y = arccos x, y = arctan x,
y = arccot x:
π π
y = arcsin x ⇐⇒ x = sin y (−1 ≤ x ≤ 1, − ≤ y ≤ ),
2 2
y = arccos x ⇐⇒ x = cos y (−1 ≤ x ≤ 1, 0 ≤ y ≤ π),
π π
y = arctan x ⇐⇒ x = tan y (−∞ < x < ∞, − < y < ),
2 2
y = arccot x ⇐⇒ x = cot y (−∞ < x < ∞, 0 < y < π).
Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 4 / 18
Limits and Continuity
Definition: If the values of f (x) can be taken arbitrarily close to L by taking x to
be sufficiently close to a (on either side of a) but not equal to a, we write

lim f (x) = L.
x→a

An alternative notation for lim f (x) = L is

x→a

f (x) → L as x → a.

which is usually read “f (x) approaches L as x approaches a.”

The left-hand/ right-hand limits: lim f (x) = L, lim+ f (x) = L.

x→a− x→a

Theorem: lim f (x) = L ⇐⇒ lim+ f (x) = lim− f (x) = L.

x→a x→a x→a

|x|
Example: Consider lim .
x→0 x

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 5 / 18
Limits and Continuity
Properties of limits: Suppose lim f (x) = F và lim g (x) = G exist. Then,
x→a x→a

lim [cf (x)] = cF (∀c ∈ R), lim [f (x) ± g (x)] = F ± G ,

x→a x→a

f (x) F
lim [f (x)g (x)] = FG , lim = (nếu G ̸= 0).
x→a x→a g (x) G
Continuous Functions: A function f is continuous at a number a if and only if
the following three conditions are met:
1. f (a) is defined
2. lim f (x) exists
x→a
3. lim f (x) = f (a)
x→a

We say that f is discontinuous at a (or f has a discontinuity at a) if f is not

continuous at a.
 3
x − 1
, x > 1,
Example: Investigate the continuity of f (x) = x − 1 at x = 1.
x + 2, x ≤ 1

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 6 / 18
The tangent line to a curve
The tangent line to the curve y = f (x) at the point P (a, f (a)) is the line
through P with slope
f (a + h) − f (a)
m = lim
h h→0

provided that this limit exists. We say that f is differentiable at a.

Then, an equation of the tangent line is
y − f (a) = m(x − a).

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 7 / 18
Rate of Changes

The average rate of change of y w.r.t to x

over the interval [x1 , x2 ] is

∆y f (x2 ) − f (x1 )
=
∆x x2 − x1
where
∆x = x2 − x1 is the increment of x
∆y is the increment of y

The (instantaneous) rate of change of y with respect to x at x = x1 is defined by

f (x2 ) − f (x1 )
Rate of Change of f at x1 = lim
x2 →x1 x2 − x1

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 8 / 18
Differentiation

Definition of Derivative: The derivative of a function y = f (x) at a number a,

denoted by f ′ (a), is

f (a + h) − f (a) f (x) − f (a)

f ′ (a) := lim = lim
h→0 h x→a x −a
if this limit exists. Another notations:
df dy
f ′ (a), y ′ (a) , (a), (a).
| {z } |dx {z dx }
Newton’s notation
Leibniz’s notation

f ′ (a) = the slope of the tangent line to the curve y = f (x) at (a, f (a)) and
therefore an equation of the tangent line is: y − f (a) = f ′ (a)(x − a).

f ′ (a) = the (instantaneous) rate of change of y with respect to x at x = a.

Example: Find an equation of the tangent line of the parabola y = x 2 − 8x + 9 at

(3, −6).

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 9 / 18
Derivatives of fundamental functions

(C )′ = 0, (x α )′ = αx α−1 ,

1
(ax )′ = ax ln a, (loga |x|)′ = (a > 0, a ̸= 1),
x ln a

(sin x)′ = cos x, (cos x)′ = − sin x,

1 1
(tan x)′ = = 1 + tan2 x, (cot x)′ = − 2 = −(1 + cot2 x).
cos2 x sin x

1 1
(arcsin x)′ = √ , (arccos x)′ = − √ ,
1−x 2 1 − x2

1 1
(arctan x)′ = , (arccot x)′ = − .
1 + x2 1 + x2
Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 10 / 18
Techniques of Differentiation

General rules:

(Cf )′ = Cf ′ , (f ± g )′ = f ′ ± g ′ , (fg )′ = f ′ g + fg ′ ,
 ′
f f ′g − g ′f
= (g ̸= 0).
g g2
The chain rule:
′
[f (u(x))] = fu′ ux′ = u ′ (x)f ′ (u(x)).

By Leibnitz’s notation, for y = f (u) and u = g (x) we have

dy dy du
= .
dx du dx

Example: Find y ′ with y = (x 2 + 1)(2x+3) .

Note: u = e ln u for u > 0 =⇒ y = u(x)v (x) = e v (x) ln u(x) .

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 11 / 18
Implicit Functions and Its Derivatives
Some functions y = y (x) are defined implicitly through an equation
F (x, y ) = C
and we call them implicit functions.

Example: The function y = y (x) is defined through the equation

2
e (x +1)y
+ x + y 3 = 1.

Problem: Find y ′ (x0 ), where y = y (x) is an implicit function given by

F (x, y ) = C .

Step 1: Differentiate both sides of the equation with respect to x. By using

the chain rule, notice that y = y (x) is a function of x, we derive:
(*) y ′ = G (x, y ).
Step 2: Substitute x = x0 into F (x, y ) = C , we get y = y0 , i.e. y (x0 ) = y0 .
Using this we obtain y ′ (x0 ) from (*).
Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 12 / 18
Derivative of Implicit Functions & Higher-order Derivatives

Example: Find y ′ (0), where y = y (x) is given by x 3 + y 3 − 6xy = 1.

Example: The saving S of a city depends on its income I by the equation:

1
S 2 + I 2 = SI + I ,
4
and the saving does not exceed 30% of the income. Evaluate the rate of saving at
income I = 16. At this level of income, does the saving increase or decrease?

Higher-order derivatives:
f ′′ , f ′′′ ,. . .,
The derivative of order n:
d nf
f (n) := (f (n−1) )′ or .
dx n
Predict the formula of f (n) by computing some f ′ , f ”,...then prove it by induction.
1
Example: Find y (n) (n ∈ N) for y = sin x and y = .
ax + b
Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 13 / 18
Applications: L’Hôpital’s Rule
Indeterminate forms:
A 0 ∞
A−B : ∞−∞ : or
B 0 ∞

AB : 0·∞ AB : 1∞ , 00 or ∞0

L’Hôpital’s Rule
Suppose f and g are differentiable and g ′ (x) ̸= 0 on an open interval I that
contains a (except possibly at a). Then

f (x) 0 ∞ f (x) f ′ (x)

lim : or =⇒ lim = lim ′
x→a g (x) 0 ∞ x→a g (x) x→a g (x)

Important Remark: We may apply the L’Hôpital’s Rule several times (provided
0 ∞
the limit has the form or ) until it has a determinate form.
0 ∞
Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 14 / 18
Indeterminate Forms
0 ∞
Transfer indeterminate forms into and then apply L’Hôpital’s Rule.
0 ∞
f 0 ∞
lim fg (form 0.∞) =⇒ lim   (form or )
1 0 ∞
g
v 0 ∞
lim u (form 0 or 1 ); using

lim u v = lim e v ln u = e lim v ln u .

Example: Evaluate
x − sin x
(a) lim+ .
x→0 x3
(b) lim+ x sin x .
x→0
(c) lim+ x ln x.
x→0
1
(d) lim
π−
(sin x) π−2x .
x→ 2

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 15 / 18
Applications: Optimization Problem
Extrema of continuous functions

1 Absolute extrema (global extrema)

values:
Absolute min value: f (a)

Absolute max value: f (d)

2 Relative extrema (local extrema) values:

Local min values: f (c), f (e)

Local max values: f (b), f (d)

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 16 / 18
 The First Derivative Test
Suppose that c is a critical number of a continuous function f .
(a) If f ′ changes from positive to negative at c, then f has a local maximum at c.
(b) If f ′ changes from negative to positive at c, then f has a local minimum at c.
(c) If f ′ does not change sign at c (for example, if f ′ is positive on both sides of
c or negative on both sides), then f has no local maximum or minimum at c.

The Second Derivative Test

Suppose that f ′′ is continuous near c.
(a) If f ′ (c) = 0 and f ′′ (c) > 0, then f has a local minimum at c.
(b) If f ′ (c) = 0 and f ′′ (c) < 0, then f has a local maximum at c.

Example: Find local extremum of the following function:

f (x) = x 3 − 2x 2 + x + 1.

Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 17 / 18
 Find absolute min/ max value:

1 Find the values of f at the critical numbers

of f in (a, b).
2 Find the values of f at the endpoints of the
interval.
3 The largest of the values from Steps 1 and 2
is the absolute maximum value; the smallest
of these values is the absolute minimum
value.

Hình: Absolute extrema

Example: Find absolute min/ max value of :

(i) f (x) = sin x + x trên [−2π, 2π].
(ii) f (x) = 3x 4 − 16x 3 + 18x 2 , −1 ≤ x ≤ 4.
Hồ Ngọc Kỳ - Institute of Applied Mathematics Lectures on Maths for Economics & Managements Lecture 5: Functions of One Variable 18 / 18