Differentiating logarithm functions. To differentiate y = ln x, we must return to the definition... ln(x + h) − ln x d (ln x) = lim h→0 dx h and simplify, using algebraic properties of ln x... 1 = lim (ln(x + h) − ln x) h→0 h 1 x+h = lim ln h→0 h x " 1/h # h = lim ln 1 + h→0 x and use the continuity of ln x... " 1/h # h = ln lim 1 + h→0 x What next? 1 Remember the special limit lim (1 + u)1/u = e . . . u→0 and substitute (rename) h 1 1 1 1 = u =⇒ h = ux =⇒ = = · ... x h ux u x So lim h→0 h 1+ x 1/h = lim (1 + u→0 1 1 · u) u x = lim u→0 (1 + = lim (1 + u→0 1 u) u 1 u) u 1 x 1 x (because f (x) = a1/x is continuous) = e1/x 2 Returning to d (ln x)... dx d ln(x + h) − ln x (ln x) = lim h→0 dx h .. . " 1/h # h = ln lim 1 + h→0 x = ln(e1/x ) 1 = . x I.e., d 1 (ln x) = dx x 3 Example 1. 1 d 2 3x ln x = 6x ln x + 3x2 · = 6x ln x + 3x dx x (product rule) Example 2. d 1 10x + 3 2 ln 5x + 3x + 1 = 2 · (10x + 3) = 2 dx 5x + 3x + 1 5x + 3x + 1 (chain rule) 2 Example 3. Differentiate y = ln 5x . We can use the chain rule again: 1 10x 2 y = 2 · 10x = 2 = . . . 5x 5x x 0 or we can simplify and then differentiate: y = ln 5x 2 1 2 = ln 5 + ln x = ln 5 + 2 ln x =⇒ y = 0 + 2 · = x x 0 2 4 Example 4. Find the equation of the tangent line to the graph 2 x +x−1 y = ln 4x − 3 at the point where x = 1. 1+1−1 Point: y(1) = ln = ln 1 = 0, so the point is (1, 0). 4−3 Slope: We need to compute y 0 (1), and once again, it is easier to simplify before we differentiate: 2 x +x−1 y = ln = ln(x2 + x − 1) − ln(4x − 3) 4x − 3 2x + 1 4 =⇒ y = 2 − x + x − 1 4x − 3 3 4 =⇒ y 0 (1) = − = −1. 1 1 So the equation of the tangent line is 0 y = y(1) + y 0 (1)(x − 1) =⇒ y = −(x − 1) =⇒ y = 1 − x. 5 Figure 1: Graph of y = ln x2 +x−1 4x−3 6 and its tangent line at (1, 0) Logarithmic differentiation: If f (x) is any (differentiable) function, then 1 f 0 (x) d 0 ln(f (x)) = · f (x) = . dx f (x) f (x) This is called the logarithmic derivative of f (x). d ln(f (x)) than it is to In some cases, it is easier to compute the dx compute f 0 (x), because ln(f (x)) is a simpler function than f (x) itself. We can take advantage of this to find f 0 (x) because d f 0 (x) = f (x) · ln(f (x)) . dx This is called logarithmic differentiation. We will use this idea in the following special, but important case... 7 Differentiating the exponential function. Observation: ln(ex ) = x which is a simpler function (to differentiate) d x x e : than e . So we will use logarithmic differentiation to find dx d x d d e = ex · (ln(ex )) = ex · x = ex · 1 = ex . dx dx dx I.e., d x e = ex dx Example 5. 3 x −1/2 d x 1/2 x 1/2 x 1/2 x 1 −1/2 = 3e x + e x 3e x = 3e x + 3e · x dx 2 2 product rule. Example 6. ex 2 −3x+1 0 = ex chain rule 8 2 −3x+1 (2x − 3) Example 7. Find the marginal revenue function for the firm whose demand equation is given by p = 15e2−0.05q . First, find the revenue function r = pq = 15qe2−0.05q . Now differentiate, using the product and chain rules: dr = 15e2−0.05q + 15qe2−0.05q (−0.05) = (15 − 0.75q)e2−0.05q . dq 9 The consumption function for a small country is given by 0.95Y e C = ln 0.2Y , e +5 where Y is national income, measured in $billions. (a) How much is consumed when Y = 10? 9.5 e C(10) = ln 2 ≈ 6.983 e +5 (b) What is the marginal propensity to consume when Y = 10? 0.95Y dC d e = ln 0.2Y dY dY e +5 d 0.95Y 0.2Y = ln e − ln e +5 dY 0.2Y 0.2e d = 0.95Y − ln e0.2Y + 5 = 0.95 − 0.2Y dY e +5 dC 0.2e2 = 0.95 − 2 ≈ 0.8307 dY Y =10 e +5 10 dC , and interpret the result. Y →∞ dY dC 0.2e0.2Y lim = lim 0.95 − 0.2Y Y →∞ dY Y →∞ e +5 (c) Compute the limit lim 0.2e0.2Y · e−0.2Y = 0.95 − lim Y →∞ (e0.2Y + 5) · e−0.2Y 0.2 0.2 = 0.75 = 0.95 − lim = 0.95 − Y →∞ 1 + 5e−0.2Y 1 Interpretation: When income grows large, the nation will tend to consume $0.75 of each additional dollar of income. 11
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