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Math Help - Just a theoretical economics-based calculus problem

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    Just a theoretical economics-based calculus problem

    I was just messing around in economics class and created an integral that followed a graph illustrating law of diminishing returns in reference to price of an item. I got something like 10.94 ∫.796^x dx. I understand how to compute the integral, but what would be the significance of the value?
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    Re: Just a theoretical economics-based calculus problem

    Quote Originally Posted by ohshiznit422 View Post
    I was just messing around in economics class and created an integral that followed a graph illustrating law of diminishing returns in reference to price of an item. I got something like 10.94 ∫.796^x dx. I understand how to compute the integral, but what would be the significance of the value?
    a definite integral value takes on the product of the independent variable's units and the dependent variable's units.

    for example, integrating velocity (meters/second) vs. time (seconds) yields (meters/second)(seconds) = meters ... displacement.
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    Re: Just a theoretical economics-based calculus problem

    Ok, yes I understand. I am saying if it is a definite integral, what is the integral equal to. For example, the integral of the force vs distance graph over any parameter is equal to the work.
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    Re: Just a theoretical economics-based calculus problem

    Quote Originally Posted by ohshiznit422 View Post
    Ok, yes I understand. I am saying if it is a definite integral, what is the integral equal to. For example, the integral of the force vs distance graph over any parameter is equal to the work.
    units on the graph?
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    Re: Just a theoretical economics-based calculus problem

    Quote Originally Posted by ohshiznit422 View Post
    I was just messing around in economics class and created an integral that followed a graph illustrating law of diminishing returns in reference to price of an item. I got something like 10.94 ∫.796^x dx. I understand how to compute the integral, but what would be the significance of the value?
    To answer that we would need to know the "significance" of x as well as the constants. What do they mean? What are their units?
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