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Exercises of Review

This document contains 12 mathematics problems related to matrices, systems of equations, differential equations, production functions, and other topics in business and economics. Specifically: 1) It asks to calculate the determinants of matrices involving square matrices of order 3. 2) It involves finding the value of m for singular matrices and calculating the inverse of a matrix. 3) It involves finding the rank of matrices and values of m related to the rank of matrices multiplied together. 4) It involves finding values of variables that allow systems of equations to have infinitely many or no solutions. 5) It involves using a Leontief input-output model to calculate production requirements given final demand changes. 6

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Anh Tuấn Phan
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44 views5 pages

Exercises of Review

This document contains 12 mathematics problems related to matrices, systems of equations, differential equations, production functions, and other topics in business and economics. Specifically: 1) It asks to calculate the determinants of matrices involving square matrices of order 3. 2) It involves finding the value of m for singular matrices and calculating the inverse of a matrix. 3) It involves finding the rank of matrices and values of m related to the rank of matrices multiplied together. 4) It involves finding values of variables that allow systems of equations to have infinitely many or no solutions. 5) It involves using a Leontief input-output model to calculate production requirements given final demand changes. 6

Uploaded by

Anh Tuấn Phan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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EXERCISES OF REVIEW

Mathematics for Business & Economics

Đào-Bảo-Dũng
Problem 01 : Let 𝐴 and 𝐵 be square matrices of order 3 satisfying 𝐴 = −2, 𝐵 = 4. We
denote by 𝑃𝐴 the adjoint matrix of 𝐴. Calculate
(a.) |2𝐴−1 . 𝐵2 |.
(b.) |𝐴−1 . 𝑃𝐵 |.
(c.) |𝑃2𝐴 |.

Problem 02 : Given the three matrices as follows


1 1 2 1 −2 2
𝐴= 2 𝑚 1 , 𝐵= 2 1 1 and 𝐶 = (1 −1 1)
1 𝑚 2 1 0 1
(a.) Find the value of 𝑚 such that 𝐴 is singular.
(b.) Calculate 𝐵 −1 𝐶 𝑇 .

Problem 03 : Given the matrices


1 3 1 1 1 𝑚
𝐴 = 1 −2 1 and 𝐵 = 2 1 −1 .
0 1 1 𝑚 2 2
(a.) Find the rank of 𝐴.
(b.) Find 𝑚 such that the rank of 𝐵2 is equal to 3.
(c.) Find 𝑚 such that the rank of 𝐴3 𝐵2 is less than or equal to 2.
Problem 04 : Given the two systems
𝑥 + 4𝑦 − 𝑧 = 2 𝑥+𝑦+𝑧 =1
𝐼 ∶ 𝑥 + 𝑦 + 2𝑧 = −1 and 𝐼𝐼 ∶ 𝑥 + 2𝑦 + 2𝑧 = 𝑎
−2𝑥 + 𝑦 − 7𝑧 = 𝑚 2𝑥 + 𝑦 + 𝑧 = 𝑏
(a.) Find the value of 𝑚 such that the system (𝐼) has infinitely many solutions.
(b.) Find the value of 𝑎, 𝑏 such that the system (𝐼𝐼) has no solution .

Problem 05 : Consider a Leontief Open Input-Output Model where the Leontief matrix as
follows
0.3 0.2 0.1
𝐴 = 0.2 0.3 0.2
0.2 0.3 0.4
(a.) Suppose that N3 requires 200 units from N2. How many units of production that N3
requires from N1 ?
(b.) Find the output matrix 𝑋 if final demand changes to 400 for N1, 530 for N2, and 150
for N3.
Problem 06 :
(a.) Knowing that 𝑃 = 40 − 0.15𝑄2 where 𝑃 is the price and 𝑄 is the output. Determine
the price elasticity of demand when 𝑃 = 30.
(b.) Given the implicitly defined function ln 𝑦(𝑥) + 𝑥. 𝑦 = 0. Find 𝑦 ′ 0 .

Problem 07 : A manufacturer determines that 𝑚 employees will produce a total of 𝑞


units of a product per day, where
2𝑚
𝑞=
𝑚 + 10
25
If the demand equation for the product is 𝑝 = 𝑞+4, determine the marginal revenue
when this manufacturer has 15 employees.

Problem 08 :
A real-estate firm owns 100 garden-type apartments. At $400 per month, each
apartment can be rented. However, for each $10-per-month increase, there will be two
vacancies with no possibility of filling them. What rent per apartment will maximize
monthly revenue ?
Problem 09 :
Classify the critical points of the following function
𝑓 𝑥, 𝑦 = 2𝑥 4 + 𝑦 4 − 4𝑥 2 + 2𝑦 2 .

Problem 10 :
The production function for a firm is
𝑓 𝑥, 𝑦 = −𝑥 2 − 2𝑦 2 + 12𝑥 + 20𝑦
where x and y are the intputs. The cost to the firm of x and y is 4 and 8 per unit,
respectively. If the firm wants the total cost of input to be 88, find the greatest output
possible, subject to this budget constraint.

Problem 11 : Consider the differential equation 𝑦 ′ − 2𝑦 = 𝑒 2𝑥 (∗).


𝑌(𝑥) is denoted by the general solution to (∗). Calculate
lim 𝑌(𝑥)
𝑥→−∞

Problem 12 : Solve the following differential equation


𝑦 ′′ − 𝑦 ′ = 4𝑥 (1)

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