User:AgnesLuong

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Hello,

My name is Agnes. To prevent from boring you too much, I will refrain from going into too much detail about myself, thus ending my introduction here would be appropriate.

I have picked The Pythagorean Theorem as my topic. Whenever we hear the words "Pythagorean Theorem" we usually associate it with the equation a^2 + b^2 = c^2. This infamous theorem was first used by the Greek philosopher Pythagoras of Samos. This theorem can be used to find a side missing side of a right triangle if the other two sides are known. Pythagoras figured this through the use of triangles. I found the following video rather interesting:

http://www.youtube.com/watch?v=xLkfDdsnpuY&feature=player_embedded

Here, we can see how the third unknown side is figured out by the use of squares and why this theorem is only applicable to right triangles. This was even more impressive as back in the 900 BCE calculators, of course, did not exist and mathematicians back then could only rely on diagrams to produce their theorems.


Homework 12


Ever wondered why your fanny pack costs what it does? Due to our ever changing world the price of fanny packs changes as well. Calculus is used to measure the rate of change in a situation; this concept is most fitting to be applied to the change in prices of goods and services as studied in economics.


Economics is the study of production, distribution and consumptions of goods and services, thus prices can be calculated accordingly. An example would be a model describing supply and demand the marginal cost, or the cost it takes to make one more of the product can be calculated. For instance a company makes a total of fifteen trillions of fanny packs to sell (because they are the most popular things in the world) they would be able to calculate the increase of cost per fanny pack that they would make. This is most important in economics because it is about producing as much as one can within their limits. Obviously any company would want to have profits from their products. Finding the marginal costs can allow the companies to find a base price to charge for their products.

Another factor affecting the price of goods on the market is the demand elasticity. What the demand elasticity does is that it adjusts the price of goods depending on how much it is sought after , such that one percent change in price can be calculated due to the change of the demand product. For example if all of a sudden fanny packs were no longer popular, then the demand elasticity may decrease by more than one percent because the want for the fanny packs amongst the population is not as high anymore.

However the price of those fanny packs are not only dependent on how much it costs to make one, and how much the population want s it, but also how much one can pay for it. In the income elasticity of demand calculates how much a product should be worth due to the incomes of the population with both being measured in percentages. This allows for goods to be sold at the price in which they are sold and also holds the selling price constant.

The study of economics is dependent on the measure of the rate of change, as different events occur in the world, either man-made or natural, it would affect the prices of certain goods and services. Calculus is vital in determining the prices of our favorite dolls, computers and other goods by measuring how much one wants, how much one is willing to pay and so on. Not only is it found in economics but in other areas as well such as the sciences and so on.