Let W be the total oil reserves in the year t. That is, W represents the total quantity of oil, including whats not discovered on earth during time t, necessarily. assume no new oil is being made, and W is measured by wooden barrels.
a.) what are the units dW/dt?
b.) what is the meaning of dW/dt?
c.) What is its sign?
d.) How would you start estimating derivativees in practice?
e.) what would you need to know to make the above assumptions?