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Business calculus, also known as "applied calculus" or "calculus for business and social sciences", is a branch of calculus that applies to business and economics scenarios. It covers fundamental concepts of calculus such as derivatives, integrals, and functions of multiple variables, but with an emphasis on their applications in the field of business.
Business calculus focuses on practical topics like rates of change in supply and demand, cost and profit analysis, elasticity of demand, optimization, and marginal analysis. The goal is to provide students with a mathematical toolkit they can use to solve real-world business problems - making decisions about production quantities, pricing, risk assessment, and other business strategies.
While the core mathematical principles are similar to 'pure' calculus, business calculus tends to be more applied and less theoretical, making it a more practical choice for students pursuing careers in business, economics, or social sciences.
Business calculus is a specialized form of mathematics that is tailored to the practical needs of business and economic scenarios. Here are some important topics typically studied in a business calculus course:
Overall, business calculus aims to equip students with the mathematical tools needed to analyze and solve business problems effectively.
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