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Test 1 Autumn Term 2022

EC140 Mathematical Techniques B


18th November

1 Instructions
- You have 60 minutes to complete the test.
- Answer all 20 questions
- Please indicate one and only one response per question. Each question
is worth the marks indicated, and a wrong answer obtains a mark of -1. If
you indicate more than one response your mark for the question will be -1.
All the best and good luck!

1
Question 1 (5 marks)

For what values of x does the following function have a positive slope?
2 2
f (x) = 3 ln(x) x for all x > 0
3
9
A) f 0 (x) > 0 for all 0 < x < 4
9
B) f 0 (x) > 0 for all 4
<x
3
C) f 0 (x) > 0 for all 0 < x < 2
3
D) f 0 (x) > 0 for all 2
<x

E) None of the above

Question 2 (5 marks)

Why is being a stationary point c where f 0 (c) = 0 a necessary condition


for an extreme point that is an interior point of a di↵erentiable univariate
function f (x)?

A) The slope is not defined at all points, so the optimum might be at a


kink

B) The slope at c is horizontal, so the optimum might be at a kink

C) The slope at c is horizontal, so both higher and lower values of f can


be found nearby

D) Any interior point of a di↵erentiable function that is not a stationary


point must have either a positive or a negative slope, so both higher
and lower values of f can be found nearby

E) None of the above

2
Question 3 (5 marks)

Consider the following bivariate function g(x, y) defined on R2 . Establish


whether maximum and/or minimum values of this function exist. If they do,
what are the values of x and y at these extreme points?

g(x, y) = (x 1)2 + (y + 3)2

A) A minimum point at (1, 3), and a maximum point at ( 1, 3)

B) A maximum point at (1, 3), and no minimum point

C) A minimum point at (1, 3), and no maximum point

D) A maximum point at (1, 3), and a minimum point at ( 1, 3)

E) None of the above

Question 4 (5 marks)

A monopolist sells two products in quantities i and j, with demand functions


P
i = 12 Pi and j = 7 2j , as well as a combined cost function c = i2 + 3ij +
2
j + 2.
If profit is given by ⇡(i, j) = Pi i+Pj j c, find the profit maximising outputs.
3
A) i = 2 and j = 4
4
B) i = 2 and j = 3
3
C) i = 3 and j = 4
4
D) i = 3 and j = 3

E) None of the above

3
Question 5 (5 marks)

Is being a stationary point, with f 0 (c) = 0, a necessary, sufficient, neces-


sary and sufficient or neither necessary nor sufficient condition for a point of
inflection in f (x) at c?

A) Necessary, but not sufficient

B) Sufficient, but not necessary

C) Necessary and sufficient

D) Neither necessary nor sufficient

E) None of the above

Question 6 (5 marks)

Is a change in the curvature of a twice di↵erentiable function f (x) from


concave before a point x = c to convex after the point a necessary, sufficient,
necessary and sufficient or neither necessary nor sufficient condition for a
point of inflection in f (x) at c?

A) Necessary, but not sufficient

B) Sufficient, but not necessary

C) Necessary and sufficient

D) Neither necessary nor sufficient

E) None of the above

4
Question 7 (5 marks)

Consider the function:


y2 )
f (x, y) = 3xye(x
Which of the following conditions must hold at all stationary points of this
function?
y2 y2
A) 3y(x + 1)ex = 0 and 3x(1 2y 2 )ex =0
y2 y2
B) 3y(1 x)ex = 0 and 3x(1 2y 2 )ex =0
y2 y2
C) 3y(x + 1)ex = 0 and 3x(2y 2 1)ex =0
y2 y2
D) 3y(1 x)ex = 0 and 3x(2y 2 1)ex =0

E) None of the above

Question 8 (5 marks)

Find all the stationary points of the function in Question 7. Which of the
following statements holds for the x coordinate at all the stationary points
of f (x, y)?

A) 0 < x

B) 0  x  1

C) 1x0

D) x < 0

E) None of the above

5
Question 9 (5 marks)

Consider the stationary points of the function in Question 7. Which of the


following statements holds for the y coordinate at all the stationary points
of f (x, y)?
1 3
A) 2
y 2
3 3
B) 4
y 4
3 1
C) 2
y 2
p
D) y = 0 or |y| = 2

E) None of the above

Question 10 (5 marks)

Find the partial elasticity with respect to (w.r.t.) x2 of the following function
(assuming x1 > 0 and x2 > 0):

h(x1 , x2 ) = 2(x1 + 2)3 (2x2 + 1)2


2
A) Elx2 h = 2x2 +1

2x2
B) Elx2 h = 2x2 +1

4
C) Elx2 h = 2x2 +1

4x2
D) Elx2 h = 2x2 +1

E) None of the above

6
Question 11 (5 marks)

Let g be defined by:


2b
g(a, b) = 4 ln(a2 + b) 3ea

for all a > 0, b > 0. Compute the first order partial derivative ga0 .
8a 2b
A) ga0 = a2 +b
6abea
4a 2b
B) ga0 = a2 +b
6abea
8a 2b
C) ga0 = a2 +b
3abea
4a 2b
D) ga0 = a2 +b
3abea

E) None of the above

Question 12 (5 marks)
00
What is the second order partial derivative gbb for the function in Question
11?
00 4 2b
A) gbb = (a2 +b)2
3a4 ea
00 4 2b
B) gbb = (a2 +b)2
3a4 b2 ea
00 4 2b
C) gbb = (a2 +b)2
3a4 ea
00 4 2b
D) gbb = (a2 +b)2
3a4 b2 ea

E) None of the above

7
Question 13 (5 marks)

Consider the following function for L > 0:

f (L) = L3 + 48L

This function has a stationary point where L = 4. What ensures that this is
sufficient to guarantee that the stationary point at L = 4 is a maximum for
the function f (L) defined on L > 0?
A) f 00 = 3L < 0 given L > 0, so f (L) is concave continuous for L > 0

B) f 00 = 3L < 0 given L > 0, so f (L) is convex continuous for L > 0

C) f 00 = 6L < 0 given L > 0, so f (L) is concave continuous for L > 0

D) f 00 = 6L < 0 given L > 0, so f (L) is convex continuous for L > 0

E) None of the above

Question 14 (5 marks)

Which of the following conditions is sufficient to guarantee that a bivariate


function f (x, y) is a concave function? Note: the graph of f (x, y) describes
a surface in 3 dimensions.
A) A line segment joining any two points on the graph always lies below
or on the graph.

B) A line segment joining any two points on the graph always lies above
or on the graph.

C) A line segment joining any two points on the graph in either of the
fundamental directions (holding the other variable constant) always
lies below or on the graph.

D) A line segment joining any two points on the graph in either of the
fundamental directions (holding the other variable constant) always
lies above or on the graph.

E) None of the above

8
Question 15 (5 marks)

Consider the set S = {(x1 , x2 )|x1 0, x2 0, p1 x1 + p2 x2  m}, where m,


p1 and p2 are positive constants. Is S an open set? Is S bounded?

A) S is open and not bounded.

B) S is open and bounded.

C) S is closed and not bounded.

D) S is closed and bounded.

E) None of the above

Question 16 (5 marks)
⇣ ⌘
e1 x 2x+1
Use L’Hôpital’s rule to find the following limit: limx !1 x2 1
⇣ ⌘
e1 x 2x+1 3
A) limx !1 x2 1
= 2
⇣ ⌘
e1 x 2x+1 3
B) limx !1 x2 1
= 2
⇣ ⌘
e1 x 2x+1 1
C) limx !1 x2 1
= 2
⇣ ⌘
e1 x 2x+1 1
D) limx !1 x2 1
= 2

E) None of the above

9
Question 17 (5 marks)

How many stationary points does the following function have:


3
u(g, h) = g 4 6g 2 + 2h3 6h
4
A) 4

B) 5

C) 6

D) 8

E) None of the above

Question 18 (5 marks)

Classify the stationary points from the function in Question 17. What holds
for the coordinates (g, h) at every local maximum of the function u(g, h)?

A) g > 0 and h = 0

B) g > 0 and h < 0

C) g = 0 and h = 0

D) g = 0 and h < 0

E) None of the above

10
Question 19 (5 marks)

Classify the stationary points from the function in Question 17. What holds
for the coordinates (g, h) at every local minimum of the function u(g, h)?
3
A) |g|  2
and h = 1
3
B) |g| 2
and h = 1
3
C) |g|  2
and h = 1
3
D) |g| 2
and h = 1

E) None of the above

Question 20 (5 marks)

Consider the following function:

f (x) = [ln(3x2 + 1)]ex 1

What is the slope of this function at the point x = 1?


3
A) f 0 (x) = 2
+ ln(4)
3
B) f 0 (x) = 2
ln(4)
3
C) f 0 (x) = 4
+ ln(4)
3
D) f 0 (x) = 4
ln(4)

E) None of the above

(End of Test)

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