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Integral Calculus in Business
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Integral Calculus in Business
Stephanie Rubio
Mariana Leyva
Ana Estela Carreón
Integrals are used to find areas, to determine the length of curved paths, to solve complicated probability problems, to calculate the location of an object from its velocity, and in a variety of other ways.
What is integral calculus?
Branch of mathematics concerned with the theory and applications (as in the determination of lengths, areas, and volumes and in the solution of differential equations) of integrals and integration
Examples of application of fundamental theorem
Examples of
applications of
economics and
business
references
http://users.humboldt.edu/flashman/Presentations/HSU%20Colloquia/Calc&econ_12_03.html#The_Derivative_Form
http://mlovell.web.wesleyan.edu/EconCalc/SilverCalcReview.pdf
Hungerford, T. & Lial, M., Mathematics with Applications, Addison Wesley Editorial, 2003, USA, 860 pages.
To maximize revenues and profits at a given price is that the elasticity of demand
The united states energy information administration projects that the yearly rate of consumption of natural gas( in quadrillion BTUs) in the next two decades would be given by C´(t) = 23e*.0177t
Where t is time in years and t=0 corresponds to 2000. At this consumption rate, what it the total amount of natural gas that would be used in the ten year period from 2000-2010?.
The amount used over the ten years is the total change in consumption from year 0 to year 10, so its given by the definite integral.
How is it related with business?
Marginal Cost functions determine the net change in Cost functions
Producer Surplus
Consumer Savings
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