We compute the instantaneous growth rate by computing the limit of average growth rates.
- If represents the position of an object on a line (with respect to time), the rate of change gives the velocity of the object.
- If represents the velocity of an object with respect to time, the rate of change gives the acceleration of the object.
- If represents the revenue generated by selling objects, the rate of change gives us the marginal revenue, meaning the additional revenue generated by selling one additional unit. Note, there is an implicit assumption that is quite large compared to .
- If represents the cost to produce objects, the rate of change gives us the marginal cost, meaning the additional cost generated by selling one additional unit. Again, there is an implicit assumption that is quite large compared to .
- If represents the profit gained by selling objects, the rate of change gives us the marginal profit, meaning the additional cost generated by selling one additional unit. Again, there is an implicit assumption that is quite large compared to .
- The rate of change of a function can help us approximate a complicated function with a simple function.
- The rate of change of a function can be used to help us solve equations that we would not be able to solve via other methods.
From slopes of secant lines to slopes of tangent lines
You’ve been computing average rates of change for a while now, the computation is simply However, the question remains: Given a function that represents an amount, how exactly does one find the function that will give the instantaneous rate of change? Recall that the instantaneous rate of change of a line is the slope of the line. Hence the instantaneous rate of change of a function is the slope of the tangent line. For now, consider the following informal definition of a tangent line:
Given a function and a number in the domain of , if one can “zoom in” on the graph at sufficiently so that it appears to be a straight line, then that line is the tangent line to at the point .
We illustrate this informal definition with the following diagram:
The derivative of a function at , is the instantaneous rate of change, and hence is the slope of the tangent line at .
Unfortunately, if is not a straight line we cannot use the slope formula to calculate this rate of change, since is the only point on this line that we know. In order to deal with this problem, we consider secant lines, lines that locally intersect the curve at two points. One of these points will be , the point at which we are trying to find the rate of change. The second point we will think of being nearby. Given an near to , the second point for our secant line is . The slope of any secant line that passes through the points and is given by
Suppose the difference between and is some small number . That is or . Substituting this in to our slope formula gives us an alternate characterization of the slope of a secant line.
The following diagram shows the secant lines for several values of , as well as the tangent line at .
Notice that as approaches , the slopes of the secant lines are approaching the slope of the tangent line. This leads to the definition of the derivative:
Recalling our original characterization of the slope of the secant line between and which is near by to . We see that we could also calculate the derivative of a function by letting go to . This gives us the following definition:
Now we will give a number of examples.
Start by writing out the definition of the derivative, Multiply by to clear the fraction in the numerator, Combine like-terms in the numerator, Cancel from the numerator and denominator, Take the limit as goes to , We are looking for an equation of the line through the point with slope . The point-slope formula tells us that the line has equation given by We can confirm our results by looking at the graph of and the line .