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2QuizExercises Solved

1. The document contains 10 problems solving for limits, derivatives, and equations of tangent lines. 2. The problems involve setting up and solving systems of equations to find equilibrium points and prices for supply and demand models. 3. Derivatives are taken and limits are evaluated to find slopes and equations of tangent lines for various functions.

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clemencetrin
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12 views5 pages

2QuizExercises Solved

1. The document contains 10 problems solving for limits, derivatives, and equations of tangent lines. 2. The problems involve setting up and solving systems of equations to find equilibrium points and prices for supply and demand models. 3. Derivatives are taken and limits are evaluated to find slopes and equations of tangent lines for various functions.

Uploaded by

clemencetrin
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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1.

The demand and supply functions for computers are:


Demand: 𝑄𝑑 = 100 − 6𝑃
Supply: 𝑄𝑠 = 28 + 3𝑃
where 𝑃 > 0 is the price of a computer and 𝑄𝑑 > 0, 𝑄𝑠 > 0 are the corresponding quantities.
The quantity 𝑄 ∗ of computers bought and sold at equilibrium is
a) 8
b) 40
c) 52
d) > 60
Solution:
𝑄 = 100 − 6𝑃 subtract
𝑄𝑑 = 𝑄𝑠 = 𝑄 → { → 9𝑃 = 72 → 𝑃∗ = 8 → 𝑄 ∗ = 28 + 3𝑃 ∗ = 52
𝑄 = 28 + 3𝑃

2. The demand and supply functions for some product A are:


Demand: 𝑄𝑑 = 200 − 𝑃2 + 4𝑃
Supply: 𝑄𝑠 = 20 + 𝑃
where 𝑃 > 0 is the price and 𝑄𝑑 > 0, 𝑄𝑠 > 0 are the corresponding quantities. The quantity
𝑄 ∗ of product A bought and sold at equilibrium is
a) 25
b) 35
c) 45
d) > 45
Solution:
𝑄 = 200 − 𝑃2 + 4𝑃 subtract 2
𝑄𝑑 = 𝑄𝑠 = 𝑄 → { → 𝑃 − 3𝑃 − 180 = 0 → 𝑃1,2 = 15, −12 →
𝑄 = 20 + 𝑃
𝑃∗ = 15 is only feasible solution, so 𝑄 ∗ = 20 + 𝑃∗ = 35.

3. Consider the demand and supply of two commodities, as follows:


𝑄𝑑1 = 18 + 2𝑃1 − 𝑃2
𝑄𝑠1 = 1 + 3𝑃1
𝑄𝑑2 = 17 + 𝑃1 − 𝑃2
𝑄𝑠2 = 6 + 2𝑃2 .
The equilibrium prices (𝑃1 ∗ , 𝑃2 ∗ ) are
a) (12,5)
b) (5,12)
c) (10,7)
d) (7,10) Subtract 2nd from 1st Subtract 4th from 3rd
Solution:
0 = 17 − 𝑃1 − 𝑃2 sum
𝑄𝑑1 = 𝑄𝑠1 = 𝑄1 and 𝑄𝑑2 = 𝑄𝑠2 = 𝑄2 → { → 4𝑃2 = 28
0 = 11 + 𝑃1 − 3𝑃2
→ 𝑃2 ∗ = 7 → 𝑃1 ∗ = 10 → (𝑃1 ∗ , 𝑃2 ∗ ) = (10,7) and the answer is c).
4. Consider the demand and supply of two commodities, as follows:
𝑄𝑑1 = 18 − 𝑃1 + 𝑃2
𝑄𝑠1 = 7 + 2𝑃1 .
𝑄𝑑2 = 19 − 𝑃1 + 2𝑃2
𝑄𝑠2 = 2 + 3𝑃2
The quantities (𝑄1 ∗ , 𝑄2 ∗ ) bought and sold at equilibrium for both goods are
a) (21,32)
b) (15,17)
c) (10,7)
d) (7,10) Subtract 2nd from 1st Subtract 4th from 3rd
Solution:
0 = 11 − 3𝑃1 + 𝑃2 sum
𝑄𝑑1 = 𝑄𝑠1 = 𝑄1 and 𝑄𝑑2 = 𝑄𝑠2 = 𝑄2 → { → 4𝑃1 = 28
0 = 17 − 𝑃1 − 𝑃2
→ 𝑃1 ∗ = 7 → 𝑃2 ∗ = 10 → (𝑄1 ∗ , 𝑄2 ∗ ) = (7 + 2𝑃1 ∗ , 2 + 3𝑃2 ∗ ) = (21,32) and the answer is a).

5. The demand function 𝑃 = 𝑓(𝑄) and the cost function 𝑇𝐶 = 𝑔(𝑄) for a certain product
are given as functions of the quantity 𝑄, 𝑄 ≥ 0:
𝑃 = 30 − 𝑄
𝑇𝐶 = 180 + 3 ∙ 𝑄.
The breakeven points for this product are the value(s) of 𝑄
a) 15 (unique breakeven point)
b) 12 (unique breakeven point)
c) 15 and -12
d) 12 and 15
Solution:
Total revenue equals 𝑇𝑅 = 𝑃 ∙ 𝑄 = (30 − 𝑄) ∙ 𝑄 and the breakeven points are solution of
the equation 𝒑𝒓𝒐𝒇𝒊𝒕 = 𝑇𝑅 − 𝑇𝐶 = 0.
So, (30 − 𝑄) ∙ 𝑄 − (180 + 3 ∙ 𝑄) = 0 → 𝑄 2 − 27𝑄 + 180 = 0 → 𝑄1,2 = 12, 15
Since both solutions are feasible (𝑄 ≥ 0), answer is d).

−𝑥 4 +2𝑥+1
6. The value of lim is
𝑥→0 𝑥4
a) +∞
b) −∞
c) −1
d) 0 Take the lowest powers of 𝑥 since 𝑥 →0
Solution:
−𝑥 4 +2𝑥+1 1
lim = lim 𝑥 4 = ∞
𝑥→0 𝑥4 𝑥→0
−𝑥 4 +2𝑥+1
7. The value of lim is
𝑥→∞ 𝑥4
a) +∞
b) −∞
c) −1
d) 0 Take the highest powers of 𝑥 since 𝑥 →∞
Solution:
−𝑥 4 +2𝑥+1 −𝑥 4
lim = lim = −1
𝑥→∞ 𝑥4 𝑥→∞ 𝑥 4

𝑥 4 −2𝑥+1
8. The value of lim is
𝑥→0 𝑥 3 −2𝑥 2
a) −∞
b) 0
c) 1
d) +∞
Solution:
𝑥 4 −2𝑥+1 1
lim = lim −2𝑥 2 = −∞
𝑥→0 𝑥 3 −2𝑥 2 𝑥→0

𝑥 4 −2𝑥+1
9. The value of lim is
𝑥→−∞ 𝑥 3 −2𝑥 2
a) −∞
b) 0
c) 1
d) +∞
Solution:
𝑥 4 −2𝑥+1 𝑥4
lim = lim = lim 𝑥 = −∞
𝑥→−∞ 𝑥 3 −2𝑥 2 𝑥→−∞ 𝑥 3 𝑥→−∞

𝑥 3 −2𝑥+1
10. The value of lim is
𝑥→−∞ 𝑥 4 −2𝑥 2
a) −∞
b) 0
c) 1
d) +∞
Solution:
𝑥 3 −2𝑥+1 𝑥3
lim = lim = lim 1/𝑥 = 0
𝑥→−∞ 𝑥 4 −2𝑥 2 𝑥→−∞ 𝑥 4 𝑥→−∞
11. The first derivative of the function 𝑃(𝑄) = 10 ∙ 𝑄−0.3 at the point 𝑄 = 2 is
a) −3 ∙ 2−1.3
b) −3 ∙ 20.7
c) 9.7 ∙ 2
d) 9.7 ∙ 2−1.3
Solution:
(10 ∙ 𝑄 −0.3 )′ = 10 ∙ (−0.3) ∙ 𝑄 −0.3−1 = −3 ∙ 𝑄 −0.3−1 = 3 ∙ 𝑄 −1.3, hence, the answer is a).

3
12. The first derivative of the function 𝑓(𝑧) = 𝑧 3 − 3 at the point 𝑧 = 1 is
√𝑧
a) 4
b) 2
c) −2
d) 0
Solution:
3 ′ ′ 𝑧=1
(𝑧 3 − 3 ) = (𝑧 3 − 3 ∙ 𝑧 −1/3 ) = 3𝑧 2 − 3(−1/3)𝑧 −4/3 → 𝑓′(1) = 3 + 1 = 4.
√𝑧

𝑥−2
13. The equation of the tangent line to the curve 𝑦 = 𝑥+2 at 𝑥 = 2 is
a) 𝑦 = 2(𝑥 − 2)
b) 𝑦 − 2 = 2 ∙ 𝑥
c) 𝑦 = 0.25 ∙ (𝑥 − 2)
d) 𝑦 = −0.25 ∙ (𝑥 − 2)
Solution:
𝑥−2 ′ 1∙(𝑥+2)−(𝑥−2)∙1 𝑥=2 4−0 1
(𝑥+2) = → 𝑦 ′ (2) = = 4 = 0.25.
(𝑥+2)2 42
Since the slope of the tangent line at 2 equals 𝑦 ′ (2) = 0.25, we could immediately circle c)
as the answer. Nevertheless, we will calculate the equation.
The equation of the tangent line at 𝑥 = 2 is
𝑦 − 𝑦(2) = (𝑥 − 2) ∙ 𝑦 ′ (2).
We need 𝑦(2) = 0 and the final answer is 𝑦 − 0 = (𝑥 − 2) ∙ 0.25, so c).

14. The equation of the tangent line to the curve 𝑦 = (𝑥 − 2)√𝑥 at 𝑥 = 4 is


a) 𝑦 − 4 = 2(𝑥 − 4)
b) 𝑦 − 4 = 2 ∙ 𝑥
c) 𝑦 = 2.5 ∙ (𝑥 − 4)
d) 𝑦 − 4 = 2.5 ∙ (𝑥 − 4)
Solution:
′
′ 1 1
1 1 𝑥=4 1 1
((𝑥 − 2)√𝑥) = ((𝑥 − 2) ∙ 𝑥 ) = 1 ∙ 𝑥 2 + (𝑥 − 2) ∙ 2 𝑥 −2 →
2 𝑦 ′ (4) = 2 + 2 ∙ 2 ∙ 2 = 2.5.
The equation of the tangent line at 𝑥 = 4 is
𝑦 − 𝑦(4) = (𝑥 − 4) ∙ 𝑦 ′ (4).
We need 𝑦(4) = 4 and the final answer is 𝑦 − 4 = (𝑥 − 4) ∙ 2.5, so d).

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