ECON1003 UNIT 2 Version 1 - Part 1 REV 2

UNIT 2
Equations
Scales in Balance
Source: http://tinyurl.com/naxgpkj
Overview
Using some of the functions that we met is the last Unit we will now apply basic rules of
operations in Algebra to determine the solution to equations. We will first solve linear and
quadratic equations before moving onto solve exponential and logarithmic equations. If a
company’s sales grew by a certain percent each year, the function showing this growth over a
period will be an exponential function. If you wish to know how long it will take your savings
at the bank to double if it was compounding continuously at a given rate of interest, you will
need to know about logarithms.
Unit 2 Learning Objectives
By the end of this Unit you will be able to:

1. Solve linear equations, for real-world relationships which are linear in nature;
2. Solve linear equations to find the value(s) for which they are true;
3. Identify forms of the equation of a straight line for plotting graphs and estimating
rates of change;
4. Convert from one form of the equation of straight line to another;
5. Determine the equation of any straight line in point-slope form;
6. Identify quadratic equations so that functions of average and marginal cost and
average and marginal product can be understood for decision making;
ECON1003 Mathematics for the Social Sciences I -‐ Unit 2_Version 1 Page 1

7. Solve quadratic equations using: completing the square, factorization and the
quadratic formula;
8. Apply the concept of a function to demand and supply curves and production levels
to determine equilibrium price and quantity and optimal production levels;
9. Identify exponential equations for given real-world relationships which are
exponential in nature;
10. Identify logarithmic equations, including natural logs since many real-world
relationships are logarithmic in nature;
11. Convert from exponential to logarithmic form and from logarithmic to exponential
form;
12. Apply the rules of exponents and logarithms in the process of solving equations
involving exponents and logarithms;
13. Solve exponential equations on compound interest and population growth;
14. Solve logarithmic equations on demand and supply.

This unit comprises eight sessions as follows:
Session 2.1: Linear Equations

Session 2.2: Solving Linear Equations
Session 2.3: Forms of the Straight Line
Session 2.4: Quadratic Equations
Session 2.5: Solving Quadratic Equations
Session 2.6: Exponential and Logarithmic Equations
Session 2.7: Solving Exponential Equations
Session 2.8: Solving Logarithmic Equations
Reading Resources
Required Reading
Abramson, J., Falduto V., Gross, R., Lippman, D., Rasmussen, M., Norwood, R.,...
Fernandez, C. (2015). College Algebra. Retrieved from
http://openstaxcollege.org/textbooks/college-algebra
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States
License.
Lippman, D. & Rasmussen, M. (2015). Precalculus: An Investigation of Functions. Retrieved
from http://www.opentextbookstore.com/precalc/

This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States
License.
Scottsdale Community College (2015). Introductory Algebra Open Educational Resource Project.
Retrieved from https://sccmath.wordpress.com/mat09x-fall-2014-2/
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0

Unported License.
Scottsdale Community College (2015). MAT12x – Intermediate Algebra Spring 2015 Open
Educational Resource Project. Retrieved from https://sccmath.wordpress.com/mat12x-fall-
2014/
This work is licensed under a Creative Commons Attribution 4.0 International License.
Scottsdale Community College (2015). MAT150 – College Algebra Spring 2015
Open Educational Resource Project. Retrieved from https://sccmath.wordpress.com/mat150-fall-

2014/
This work is licensed under a Creative Commons Attribution 4.0 International License.
You are also advised to locate and read: Additional papers relevant to the topics covered.

Session 2.1
Linear Equations
Introduction
An equation says that some expression on the left hand side is equal to another on the right
hand side. A linear equation, in a particular variable will indicate that the highest power that
variable takes in the equation is one and that there are no joint products of that variable and
any other variable. The means that an equation in the variable x cannot have terms such as x2 or
x3 etc, nor can it have terms like “xy” or “xz”. An example of a linear equation in the variable x
will take a form such as ax + b = 0, where a and b are constants but a ≠ 0. Here are two
examples of a real life problems involving linear equations which we may want to solve. We
will see how in a later section.
FOOD FOR THOUGHT

TERMS TO LEARN
• A variable is a symbol selected to represent any number in a given set of
numbers, here assumed to be real numbers.
• A constant is either an unknown value which is assumed to be fixed or if
known, it is unchanging.
• A number which appears in front of a variable is called the numerical
coefficient of that variable.
• A term is a number or a variable, or numbers and variables multiplied or
divided by each other. Terms are separated by the plus, ‘+’ and minus, ‘-’
operations signs.
• Like terms are terms who variables and their exponent (power) are the same
but the coefficients may be different.
• An algebraic expression is any combination of variables: with their
numerical coefficients, operation signs, grouping symbols and constants.
Algebraic expressions may contain one or more than one term.
• Like terms have the same variables and the same exponent of the variable.
If we look at the expression 7x5 - 9y4 + 6x3 - y2 + 20(x2 + y) + 88. The variables in this expression
are x and y. The 7 is the numerical coefficient of x5 whereas 6 is the numerical coefficient of x3.
The number 88 is the only constant term in this expression, and the parentheses or brackets ‘( )’
are the only grouping symbols used. The numbers 5, 4, 3, 2 and 1 (the exponent of y) are
exponents or “power of variables”.
Session 2.1 Summary
This session introduced you to Linear Equations by showing you the form that they would take.
It also provided examples of practical problems in which the solution will involve working with
a linear function. It ended with a few tips on terms with which you must become familiar as
they would be used from time to time in this and later Units.

Session 2.2
Solving Linear Equations
Introduction
If we examine the statement of equality which is made by a linear equation, we would observe
that for different values of the variable, the equation is either true or false. The solution or root
of the equation will be that value of the variable which results in the statement being true. In the
social sciences any problem involving a constant rate of change in a variable could be modeled
using linear equation. We will find it in fields such as management, accounting, politics and
sociology.
Principles used in Solving Equations

There are four primary types of linear equations and four principles are used to
solve them:
The addition principle adds the same The subtraction principle subtracts the
number to both sides of the equation same number from both sides of the
without changing the nature of the equation without changing the nature of
equation. the equation.
If a = b then a + c = b + c If a = b then a - c = b - c
The division principle divides both sides The multiplication principle multiplies
of the equation by the same non-zero both sides of the equation by the same
number to without changing the nature of non-zero number to without changing the
the equation. nature of the equation.
If a = b then a/c = b/c If a = b then ac = bc

• The addition principle adds the same number to both sides of the equation without
changing the nature of the equation.
• The subtraction principle subtracts the same number from both sides of the equation
without changing the nature of the equation.
• The division principle divides both sides of the equation by the same non-zero
number to without changing the nature of the equation.
• The multiplication principle multiplies both sides of the equation by the same non-
zero number to without changing the nature of the equation.
Summary of Procedure for Solving Equations in General
1. Remove parentheses
2. Combine like terms on each side of the equation.
3. Use addition and/or subtraction principle to get variables on one side of the
equation and constant terms on the other side.
4. Use division principle to solve the equation.
5. Check the equation.
The fifth step is not always done but it is a way of checking to see that the answer is correct.

Maintaining Balance in Solving Equations


Solving an equation involves the use of inverse operations, with the sole purpose of isolating
the variable of interest. These operations involve the movement of quantities from one side of
the equal sign to another, simplifying expressions and multiplying throughout by a number.
After each operation is performed, the resulting equation will be equivalent to the previous
one, which guarantees that equality is maintained. By convention we isolate the variable of
interest on the left hand side and the answer will be the part on the right hand side. While
moving terms around we must ensure that equality (balance) is maintained throughout so that
whatever is done on the left hand side, the same must be done to the right hand side. This
process is known as solving for the unknown variable.
Solving Absolute Value Equations

An absolute value equation takes the form |x| = a, where 'a' must be a positive number. The
expression means the 'x' is either equal to 'a' or it is equal to '–a'. In real life absolute values are
used in finding confidence intervals in Statistics.
With these equations we need to modify our approach a bit.
a) The first step is to isolate the absolute value expression. That is, isolate the entire
expression that falls between the absolute value bars, ||. Follow the steps above as
you try to isolate the variable.
b) Create two separate equations from the original one. The first equation should look
just like the original only that the absolute value bars are removed.
The second equation should look just like the first except that you change the sign of the
right side of the equation.

c) Solve both equations to get answers, which are both correct for the original function.
Example 2.4 Example 2.5

To solve To solve
2|x+6|+8=38 3|x-6|-9=57
Begin to isolate the absolute value Begin to isolate the absolute value
expression, by subtracting 8 from expression, by adding 9 to both
both sides sides
2|x+6|=30 3|x-6|=66
Complete the isolation process by Complete the isolation process by
dividing throughout by 2 dividing throughout by 2
|x+6| = 15 |x-6|=22
Create two new equations Create two new equations
x+ 6 = 15 and x + 6 =-15 x-6 = 22 and x-6=-22
Solving each separately, we get Solving each separately, we get
x+ 6=15 x-6 = 22
x=9 x = 28
and and
x + 6 = -15 x-6 = -22
x = -21 x = -16
x = 9 and -21 are the solutions. x = 28 and-16 are the solutions
Equations with more than one variable

Some linear equations contain more than one variable. We may be required to write the value of
one in terms of the other. Say the amount of money spent on a trip to the Water Park (B) is a
function of the time spent, in hours (t), and the number of children on the trip (c), was given by
B = 30.5t + 21.5c. If you have you have a fixed budget and you know you want to take your two
children and your niece and godson, you could write the function in terms of t in order to
determine how much time you must spend at the Water Park. Example 2.6 shows how the re-
arrangement of the variable is done.

Example 2.6
To solve the following equation for y

– !(! – !) + !" = !"
Simplifying the left hand side of the equation, we expand the terms in
brackets
−!" + ! + !" = !"
Separating the variables, we carry-2x and 8 to the right hand side

!" = !" + !
Divide throughout by 3 to isolate the y

!" + !
! =
!
! !
! = ! +
! !

For the Water Park scenario described above you budget was $150, how much time could you
spend at the Water Park.
Example 2.7
!"#$% ! = !". !" + !". !"
We know that
! – !". !"
! =
!". !
If we followed the approach in Example 2.6
With B=150 and c=4
! – !". !"
! =
!". !
!"# – !".!"
! =
!".!
!"# − !". ! !
!=
!". !
= !. !
!"#$ !" ! !"#$% !"# !"# !"#$%&'.

USEFUL LINKS TO READING:
Intermediate Algebra Student Workbook -‐ Section 3.1
Links to Videos:

5.1 Algebraic Equations Mathispower4u. (2014). Introduction to Algebraic Equations [Video
file]. Retrieved from https://www.youtube.com/watch?v=eBameNAndKw&feature=youtu.be

5.2 Solving One-‐Step Equations -‐ Mathispower4u. (2014). Solving One Step Equations [Video
file]. Retrieved from https://www.youtube.com/watch?v=9DetbpqoXy8&feature=youtu.be

5.3 Solving Two-‐Step Equations -‐ Mathispower4u. (2014). Solving Two Step Equations [Video
file]. Retrieved from http://www.youtube.com/watch?v=M40K7LtuRFk&feature=youtu.be
5.4 Solving Multi-‐Step Equations -‐ Mathispower4u.(2014). Solving Multi-‐Step
Equations [Video file]. Retrieved from
http://www.youtube.com/watch?v=ufTjNFRJJRc&feature=youtu.be
Forming Linear Equations from Worded Expressions
In reality we will face problems which can capture in a verbal model. In order to solve those problems,
we should be able to translate these verbal statements into algebraic expressions. The unknown (what
you are trying to find) can be designated/assigned a variable. It is also necessary that you represent
two quantities in terms of the same variable, so that comparison is possible. When you here the phrase
in italics used in statement, this is what that translate to in algebra.
Addition Subtraction
More than |greater than: seven more than Fewer than |less than : seven fewer than a
a number is 15 means x+7=15 number is 12 means x-7=12
Sum: the sum of a number and 4 is 20 Less: nine less a number is 25 means
means x+4 = 20 9-x=25
Difference: the difference of a number and
15 is 45 means x-15=45
Multiplication Division
Product: the product of a number and 4 Quotient: the quotient of a number and 6
is 30 means 4x = 30 is 42 means x/6=42
Product: the product of 4 and seven more Quotient: the quotient of a 17 and a
than a number is 150 means 4(x+7) = 150 number is 102 means 17/x=102
Of: one fifth of a number is 35 means Fractions: a fraction of a number less 3
(1/5)x = 35 and the same number plus 2 is 50 means
(x-3)/(x+2) =50

Real Life Applications Involving Linear Equations
Let us look at the questions highlighted in the introduction along with a few others.


ACTIVITY 2.1:

1. 3x-8=57
2. -0.8x+7 = 23
3. 3(2x – 1) = 15
4. 2x – 7 = 4x + 23
5. |x+5|-10=35
6. 7x + 2y = 15 for y
7. The selling price of a bicycle is $1800. This represents $300 less than four times the cost of the
bicycle. What is the cost of the bicycle?
8. If your electrical repair bill, was $1780. This included $940 for parts and the remainder an amount for
4 hours of labour. Find the rate per hour that was charged for labour.
9. The quantity demanded of a hand-woven rug is 3000 per month, when the unit price is $500. For each
decrease in the unit price of $40, the quantity demanded increases by 200 units. When the price is
$100 or fewer sellers are not willing to sell any hand-woven rugs, but at a price of $750 they are
willing to sell as much as 4550 hand-woven rugs per month. If the demand and supply functions are
assumed to be linear.
i. Find the demand function.
ii. Find the supply function.
iii. Find the approximate equilibrium quantity and price.

10. If 150 bags are demanded per month when the he price is $75 per bag and the amount
demanded fell to 100 bags are demanded when the price increased to $90. Derive the function
for the demand of bags.
11. A company produces bags, each of which could be sold for $150. It has a fixed monthly cost of
$13,000 and a variable cost of $20 per bag produced.
a) Determine the company's monthly total cost function.

b) Determine the company's monthly total revenue function.
c) Determine the company's monthly total profit function.
d) How many bags must the company produce to break even?
e) How many bags must the company produce to generate $26,000 in profit?


Session 2.2 Summary
In this session, we looked at different forms of the linear equations and the processes involved in
solving them. You will appreciate some of the processes learnt earlier in algebra such as
simplifying, expanding (removing brackets) and factoring which are all important in solving
equations. We have seen some practical applications in everyday living that may involve solving
linear equations.

Session 2.3
Forms of the Straight Line
Introduction
A straight line is a graphical representation of a line function. Sometimes we are required to
plot straight lines to determine the solution to linear equations graphically. It helps to know the
different forms of a straight line so that we are able to convert from one form to the other if
required. We convert from one form to the other because of what we are trying to determine.
You would see that one form allows us to make quick comparisons between equations to see
whether the rates of change are similar, another form allows for quick plotting of graphs since
we are able to easily determine x and y intercepts.
The Standard Form

The standard form of a linear equation is ax + by = c, where
• x and y are variables and are on the left hand side, and the constant term c is on the
right hand side.
• coefficients a and b as well as the constant term c are integers.
• the coefficient of x must be positive
A practical example of the standard form will be as follows:
Last Christmas holidays your club did a fund-raising to help the children Jesus Care Home. You
offered to wash cars and vans at the market car park. For washing a car you charge $25 and for
washing a van $40. You wanted to make exactly $2000. The algebraic expression of your
earnings will be 25x + 40y = 2000, where x represents the number of cars washed and y is the
number of vans washed.

The Gradient-intercept or Slope-intercept Form
The gradient-intercept form of a line is written like this: y = mx + b, where m is the gradient
and b is the y-intercept. See Fig 2. Once the equation is written in the gradient-intercept form,
the coefficient of x is the gradient and the constant term is the y-intercept.
Fig 2.1 Equation of Straight Line
Deriving the Equation of a Straight Line using the Point-Slope Formula

If you are given the gradient (slope) and one point on a straight line, then deriving the equation
of that line involves a simple procedure. Point-gradient or point-slope formula: If a line has
gradient m and passes through the point (x1, y1), the equation of the line is found using y – y1
= m(x – x1).

Fig 2.2 Equation of Line of Gradient -1 through Point (-2, 3)
For a real life scenario in which you may want to determine the equation of a straight line let us
look at the following example. Let’s say your sister Bernadette sells cassava bread at the market
on Saturdays. Last Saturday at a price of $10 she was able to sell 40 cassava breads. Over the
years that she has been selling she realized that for every 50 cent reduction in her price she is
able to sell 10 extra cassava breads. She would like to be in position to determine how many she
could sell if the price was $7 or even $13. Can you assist her? Certainly you can, and I will show
you how in Example 2.10.

Find the equation passing through Find the equation passing through
the point (4, 8) with a gradient of-3. the point (5, 6) with a gradient of 2.
Using y – y1 = m(x – x1) Using y – y1 = m(x – x1)
y – 8 = -3(x – 4) y – 6 = 2(x – 5)
y – 8 = -3x +12 y – 6 = 2x-10
y =-3x + 20 is the equation y = 2x – 4 is the equation
Example 2.15 – Helping Bernadette
From the information given, we have (40, 10) as a point on a line showing the
quantity demanded for Bernadetteʼs cassava bread. If a fall in price of 50 cents
causes her to sell 10 more, we also know the change in quantity/change in
price will be 10/-0.5 = -20 is a gradient.
Using q – q1 = m(p - p1) we get
q – 40 = -20(p - 10)

q – 40 = -20p + 200
q = -20p + 240
When p = 7
q = -20(7) + 240
q = -140 + 240
q = 100
So Bernadette could sell 100 cassava breads at a price of $7.
When p = 13
q = -20(13) + 240
q = -260 + 240
q = -20
So Bernadette could not charge a price of $13 since that said quantity will be
negative but the lowest acceptable quantity is zero.
What would the price be at which no cassava bread is demanded?

0 = -20p + 240
20p = 240
p = 12
We can tell Bernadette the highest price she could charge is $12.
Deriving the Gradient and Equation of a Straight Line using the Two-
Points Formula
If you are given two points you can derive the gradient and also the equation of the line from
these. Given (x1, y1) and (x2, y2) you can find the gradient using
!! − !!
!=
! ! − ! !
and the equation from

! − !! ! − !!
=
!! − !! ! ! − ! !

Fig 2.3 Equation of Line through Points (2, 4) and (3, 2)

Let us look at a situation in which we take two points and go on the find the equation of the line
connecting them, thereby showing any relationship that exists between two variables. Having
found that equation we can then go on to predict one variable given the expected value(s) of the
other. Here is a real life example of such a situation.
Say the percentage of persons in Tobago who have been to another Caribbean island was 4% at
the beginning of 1990 and it is projected to grow in a linear pattern, so that by the beginning of
2015, the percentage was 28%.
a. We want to derive an equation of the line that will pass through those points.
b. We want to forecast the percentage of persons in Tobago who have been to another
Caribbean island by the beginning of 2020.
Let us first look at Example 2.10 which shows us how the equation of such a line is derived
before trying to solve the scenario above and answer these questions. That will be done in
Example 2.11.

Example 2.16
Find the equation of passing through the point (4, 7) and (2, 8).
Say x1 = 4 and y1 = 7 whereas x2 = 2 and y2 = 8
Using (y - y1)/(y2 - y1) = (x - x1)/(x2 - x1)

(y-7)/(8-7)=(x-4)/(2-4)
(y-7)/1 = (x-4)/(-2)
-2(y-7) = x-4
-2y+14 = x-4
-2y = x-18
y = -x/2+9
Example 2.17
We want to estimate the line which shows the percentage of persons in
Tobago who have been to another Caribbean island P = a + bt
Let P be the percentage of persons in Tobago who have been to another
Caribbean island, and t be time (in years) with year 0 being 1990.
From the information we have two points (0,4) and (15,28)

Using
! − !! ! − !!
=
!! − !! !! − !!
!"#$# !! = ! !"# !! = !" !"#$#%& !! = ! !"# !! = !"
!−! !−!
=
!" − ! !" − !
!−! !
=
!" !"
!" ! − ! = !"#
!"# − !" = !"#
!"# = !"# + !"
!"
!= ! + !
!"
! = !. !! + ! !" !"# !"#$%&'(

b. At the beginning of 2020, t = 20
! = !. ! !" + !
! = !"
Therefore 36% of persons in Tobago would have been to another Caribbean

island by 2020.
The following is another example, this time, applied in business management.
The demand and supply curves express price, p as a function of quantity, q . The demand
curve has a negative gradient whereas the supply curve has a positive gradient. Where the two
intersect we say the market is in equilibrium. The equilibrium price and quantity are found by
solving the demand and supply curves simultaneously. The demand and supply functions are
the inverse of the demand and supply curves, they express quantity, q as a function of price, p.


At equilibrium demand equals supply
1 3 1
− q + 7 = q +
2 10 2
1 3 1
− q− q = − 7
2 10 2
8 13
− q = −
10 2
8q = 65
65
q = = 8.125kgs
8
3 65 1
Substituting in the supply curve p = ! ! +
10 8 2
39 1
p= +
16 2
47
p= = $2.94
16
USEFUL LINKS TO VIDEOS:

• Gaudet, D. (2013). Media Example 14 – Writing Equations of Lines (pt. 1) [Video
file]. Retrieved from
http://www.quietyoutube.com/watch?v=kr6ZSSqaSco&feature=youtu.be
• Gaudet, D. (2013). Media Example 14 – Writing Equations of Lines (pt. 2)[Video file].
Retrieved from https://www.youtube.com/watch?v=zMoKxFZfK6I&feature=youtu.be
• Gaudet, D. (2013) Media Example 19 – Applications of Linear Functions [Video file].

Retrieved from https://www.youtube.com/watch?v=LFMjLC1k6As&feature=youtu.be

Parallel and Perpendicular Lines
Parallel lines will never intersect. This is because parallel lines have the same gradient, so the
lines are always the same distance apart.
Perpendicular lines intersect each other at right angles. When gradients of perpendicular lines
are multiplied by each other the answer will be -1.

Find the equation of the line passing Find the equation of the line passing
through the point (3, 5) and parallel through the same point (3,5) and
to equation 3x+4y=8. perpendicular to equation 3x+4y=8.
For line 3x+4y=8, the gradient is-3/4 For line 3x+4y=8, the gradient is-3/4
so any line parallel to it will have the so any line perpendicular to it will
same gradient -3/4 have gradient 4/3
y-5=(-3/4)(x-3) y-5=(4/3)(x-3)
4y-20=-3(x-3) 3y-15=4(x-3)
4y-20=-3x+9 3y-15=4x-12
4y=-3x+29 3y=4x+3
y=(-3/4)x+29 y=(4/3)x+1

ACTIVITY 2.2:

Session 2.3 Summary
In this session, we looked at the straight line in different forms. We looked at ways of finding the
equation of a straight line given one point and the gradient or given two points. We also learnt
how to determine the gradient of a straight line given two points. We saw how we can determine
the equation of line parallel or perpendicular to another line. Finally we looked at a few
applications in business, which may be modeled using a straight line.

Session 2.4
Quadratic Equations
Introduction
Like a linear equation, a quadratic equation sets up an equality relationship between an
expression on the left hand side another one on the right hand side. A quadratic equation in a
particular variable indicates that the highest power that variable takes in the equation is two.
For example, a quadratic equation in a single variable x, is one that can be written in a form
equivalent to ax2 + bx + c = 0 a, b and c are constants but a ≠ 0.
If we were to plot average production cost a firm for different levels of output we may find that
the relationship is quadratic. Average costs begin to fall initially as output increases but it gets
to a level below which it does not fall. For any output produced after that minimum level the
average costs begin to rise again. Similarly, if we looked at the profits made by business, we
will see a similar pattern except that profits will first increase, get to a maximum, then fall. If a
government plots its income tax revenue for different rates of tax, it will find that this function
is also quadratic in nature. If will therefore be important for people to understand quadratic
functions so that they are able to determine when they will attain their maximum or minimum
values.
About Quadratic Functions

If the coefficient of a quadratic function is positive (a > 0) the quadratic is open upwards or u-
shaped.
Figure 2.4 Quadratic Function with coefficient of x2 greater than zero

If the coefficient of a quadratic function is negative (a < 0) the quadratic is open downwards or
inverse u-shaped.
Figure 2.5 Quadratic Function with coefficient of x2 less than zero
The line of symmetry of a quadratic is the point where x = -b/2a. This line divides the
quadratic into two halves. One side is a mirror reflection of the other in the line of symmetry.
Figure 2.6 A Quadratic Function with Line of Symmetry
Finding the Vertex by Completing the Square

You could find the vertex of a quadratic function, its axis of symmetry, and its maximum or
minimum value using the method of completing the square. The vertex is the point whare the
quadratic reaches at maximum or minimim value.
If we took a quadratic function and wrote it in the form a(x-h)2 + k , by completing the square,
the vertex of the function will be the point (h,k) at which the graph of the function turns.
The maximum or minimum value will be k and x = h is called the axis of symmetry.
Where a > 0, the value k will be a minimum and where a > 0, the value k will be a maximum.
Alternatively if ax2 – bx + c = a(x-h)2 + k we can say that then h = b/2a and k = c - b2/4a.


USEFUL LINK/RESOURCE:
• Precalculus: An Investigation of Functions pp 163-166
http://www.opentextbookstore.com/precalc/1.5/Chapter%203.pdf
Session 2.4 Summary
This session introduced you to Quadratic Equations, highlighting specific features of Quadratic
Functions such as their vertex, the line of symmetry and whether they are u-shaped or inverse
u-shaped. It showed you how you can fund the line of symmetry and the minimum or
minimum point by completing the squares.

ECON1003 UNIT 2 Version 1 - Part 1 REV 2

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ECON1003 UNIT 2 Version 1 - Part 1 REV 2

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UNIT 2

Scales in Balance

Unit 2 Learning Objectives

By the end of this Unit you will be able to:

Session 2.1: Linear Equations

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0

Scottsdale Community College (2015). MAT150 – College Algebra Spring 2015

Open Educational Resource Project. Retrieved from https://sccmath.wordpress.com/mat150-fall-

FOOD FOR THOUGHT

Session 2.1 Summary

Solving Linear Equations

Principles used in Solving Equations

Summary of Procedure for Solving Equations in General

Maintaining Balance in Solving Equations

Solving Absolute Value Equations

With these equations we need to modify our approach a bit.

Example 2.4 Example 2.5

Equations with more than one variable

To solve the following equation for y

Separating the variables, we carry-2x and 8 to the right hand side

Divide throughout by 3 to isolate the y

Links to Videos:

Forming Linear Equations from Worded Expressions

a) Determine the company's monthly total cost function.

Forms of the Straight Line

The Standard Form

A practical example of the standard form will be as follows:

Fig 2.1 Equation of Straight Line

Deriving the Equation of a Straight Line using the Point-Slope Formula

Example 2.13 Example 2.14

Example 2.15 – Helping Bernadette

What would the price be at which no cassava bread is demanded?

and the equation from

Fig 2.3 Equation of Line through Points (2, 4) and (3, 2)

Using (y - y1)/(y2 - y1) = (x - x1)/(x2 - x1)

From the information we have two points (0,4) and (15,28)

Therefore 36% of persons in Tobago would have been to another Caribbean

The following is another example, this time, applied in business management.

USEFUL LINKS TO VIDEOS:

• Gaudet, D. (2013) Media Example 19 – Applications of Linear Functions [Video file].

Example 2.19 Example 2.20

Session 2.3 Summary

About Quadratic Functions

Figure 2.4 Quadratic Function with coefficient of x2 greater than zero

Figure 2.5 Quadratic Function with coefficient of x2 less than zero

Figure 2.6 A Quadratic Function with Line of Symmetry

Finding the Vertex by Completing the Square

Session 2.4 Summary

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