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# Managerial Economics Chap 2

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### Managerial Economics Chap 2

1. 1. Chapter 2 Optimization Techniques and New Management Tools www.slideshare.net/themhk
2. 2. www.slideshare.net/themhk Equations: TR = 100Q - 10Q 2 Tables: Graphs:
3. 3. www.slideshare.net/themhk AC = TC/Q MC =  TC/  Q
4. 4. www.slideshare.net/themhk
5. 5. www.slideshare.net/themhk
6. 6. www.slideshare.net/themhk
7. 7. www.slideshare.net/themhk The derivative of Y with respect to X is equal to the limit of the ratio  Y/  X as  X approaches zero.
8. 8. www.slideshare.net/themhk Constant Function Rule: The derivative of a constant, Y = f(X) = a, is zero for all values of a (the constant).
9. 9. www.slideshare.net/themhk Power Function Rule: The derivative of a power function, where a and b are constants, is defined as follows.
10. 10. www.slideshare.net/themhk Sum-and-Differences Rule: The derivative of the sum or difference of two functions U and V, is defined as follows.
11. 11. www.slideshare.net/themhk Product Rule: The derivative of the product of two functions U and V, is defined as follows.
12. 12. www.slideshare.net/themhk Quotient Rule: The derivative of the ratio of two functions U and V, is defined as follows.
13. 13. www.slideshare.net/themhk Chain Rule: The derivative of a function that is a function of X is defined as follows.
14. 14. www.slideshare.net/themhk Find X such that dY/dX = 0 Second derivative rules: If d 2 Y/dX 2 > 0, then X is a minimum. If d 2 Y/dX 2 < 0, then X is a maximum.
15. 15. <ul><li>Benchmarking </li></ul><ul><li>Total Quality Management </li></ul><ul><li>Reengineering </li></ul><ul><li>The Learning Organization </li></ul>www.slideshare.net/themhk
16. 16. <ul><li>Broadbanding </li></ul><ul><li>Direct Business Model </li></ul><ul><li>Networking </li></ul><ul><li>Pricing Power </li></ul><ul><li>Small-World Model </li></ul><ul><li>Virtual Integration </li></ul><ul><li>Virtual Management </li></ul>www.slideshare.net/themhk