What are derivatives and how are they used in real-life applications?
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A derivative represents the rate of change of a function concerning its variable. It measures how a function's output changes as its input changes.
In real life, derivatives are used to model phenomena like speed, growth rates, and optimisation problems.
For example, they are used in economics to calculate marginal cost and revenue, in physics to find velocity and acceleration, and in biology to study population growth.
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