More derivatives

Learning objectives

  • Interpret second derivatives
  • Understand relative rates (such as birth rates)  (\ln f(x_2)-\ln(f(x_1))/(x_2-x_1)
  • Understand elasticity (such as price elasticity of demand) (\ln f(x_2)-\ln f(x_1))/(\ln x_2-\ln x_1)

Before class

.In class