Applications of Calculus in Economics: Marginal Function as an Example
DOI:
https://doi.org/10.61173/5rzswa34Keywords:
Calculus, Economics, Marginal function, Price elasticity of demandAbstract
Mathematics is the cornerstone of life. It helps people to calculate, plan, predict and solve problems, enhances people’s logical thinking and decision-making abilities, and is widely applied in finance, engineering, technology and other fields, providing strong support for daily life and career development. In addition, calculus is a core tool in modern science and engineering, used to study rates of change (derivatives) and accumulated quantities (integrals). It is indispensable in fields such as physics, economics, and engineering, providing a powerful framework for understanding and solving dynamic problems. This essay will examine the original and applications of calculus. To this end, in this paper the author will focus on how to use calculus to solve some problems in economics field. Besides, the author will also present examples to illustrate the application of calculus in economics, such as marginal function, price elasticity of demand, and so forth. This work highlights the importance of calculus in solving problems of economics.
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