This document discusses optimization techniques and new management tools. It includes equations for total revenue and average cost. It then outlines the key rules for taking derivatives, including the constant function rule, power function rule, sum-and-differences rule, product rule, quotient rule, and chain rule. It also discusses using the second derivative to find maxima and minima. The document concludes by listing various optimization and management tools.

1. Chapter 2 Optimization Techniques and New Management Tools www.slideshare.net/themhk

2. www.slideshare.net/themhk Equations: TR = 100Q - 10Q 2 Tables: Graphs:

3. www.slideshare.net/themhk AC = TC/Q MC =  TC/  Q

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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. 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. www.slideshare.net/themhk Power Function Rule: The derivative of a power function, where a and b are constants, is defined as follows.

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. www.slideshare.net/themhk Product Rule: The derivative of the product of two functions U and V, is defined as follows.

12. www.slideshare.net/themhk Quotient Rule: The derivative of the ratio of two functions U and V, is defined as follows.

13. www.slideshare.net/themhk Chain Rule: The derivative of a function that is a function of X is defined as follows.

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.