Section 3.4: Optimization; Elasticity of demand

1. Use the extreme value property to find absolute extrema of continuous functions.
2. Compute absolute extrema in applied problems.
3. Apply Calculus techniques to study price elasticity of demand.

Annotated slides for Section 3.4.

• Math_1231_slides_3_4_notes.pdf

Please watch the following videos with the prerecorded content for Section 3.4.

1. The extreme value theorem and the closed interval method
2. More general optimization problems
3. Absolute extreme of functions with a single critical number
4. Marginal analysis criterion for maximum profit
5. Marginal analysis criterion for minimal average cost
6. Price elasticity of demand