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Econ171 Fall 2022 Final

This document is an exam for a Business and Economics Calculus II course consisting of one section with 7 questions worth a total of 100 marks. The exam covers topics like derivatives, integrals, growth models, and continuous compound interest. It will be taken over 2.5 hours and includes both computational and conceptual questions requiring the application of calculus concepts to business and economics scenarios.

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Sashina Grant
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26 views2 pages

Econ171 Fall 2022 Final

This document is an exam for a Business and Economics Calculus II course consisting of one section with 7 questions worth a total of 100 marks. The exam covers topics like derivatives, integrals, growth models, and continuous compound interest. It will be taken over 2.5 hours and includes both computational and conceptual questions requiring the application of calculus concepts to business and economics scenarios.

Uploaded by

Sashina Grant
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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NORTHERN CARIBBEAN UNIVERSITY

College of Business Management

ECON171: Business & Economics Calculus II


FALL 2022

Student’s ID#:_____________________ Petition: YES NO


If yes, Semester taken: __________

Section: ______

Campus: Mandeville Salem Kingston Montego Bay

Time: 2 ½ Hours

INSTRUCTOR : VAUGHAN LESLIE


DO NOT WRITE IN
Section A THIS SECTION

Section A

This paper consists of ONE (1) section: Total


Section A: Short Questions - 100 Marks
TOTAL 100 Marks

GENERAL INSTRUCTIONS
1. This paper consists of one (1) section, A, and two (2) pages, including this one.
2. Read the instructions at the beginning of the section carefully.
3. Ensure your work is uploaded in PDF format.
SECTION A
Short Questions (100 marks)
Instructions: ANSWER ALL QUESTIONS.
[MARKS FOR EACH QUESTION ARE AS INDICATED]

1) A company started a new campaign to increase the number of daily customers. The
company at the start, has 5,000 customers and that number, 𝑆(𝑡), is expected to grow at
1
the rate of 𝑆 ′ (𝑡) = 50𝑡 −2 customers per day, where 𝑡 is the number of days since the
campaign began.
a) How long should the campaign last if the newspaper wants the number of daily
subscribers to grow to 90,000? [7]
b) After 7 weeks, how many subscribers would they be expecting? [3]

4 3
2) Evaluate the definite integral: ∫1 (12√𝑥 2 − 𝑥5)d𝑥 [12]

3) Country A has the Lorenz curve 𝑓(𝑥) = 𝑥 4.2 while Country B has a Lorenz curve of
1 1
𝑔(𝑥) = 4 𝑥 + 5 𝑥 2 . Find the Gini index of both countries and interpret the results. [10]

4) Evaluate the following integrals and write the results in their simplest form:
𝑙𝑛3𝑥
a) ∫ 𝑑𝑥 [8] b) ∫ 6𝑥 5 √𝑥 6 + 10 𝑑𝑥 [10]
𝑥

5) Test marketing for a new health-food snack product in a selected area suggests that sales
(in thousands of dollars) will increase at a rate given by 𝑆 ′ (𝑡) = 40 − 40𝑒 −16𝑡 , 𝑡 months
after an aggressive national advertising campaign is begun. Find total sales during the
second 10 months of the campaign. Round to the nearest thousand dollars. [10]

6) Let 𝑧 = 𝑓(𝑥, 𝑦) = 5𝑥 3 − 8𝑥 2 𝑦 + 2𝑥𝑦 3 . Find:


𝜕𝑧 𝜕𝑧
a) b)
𝜕𝑦 𝜕𝑥
c) 𝑓𝑦 (−1, 2) d) 𝑓𝑥 (2, 4) [20]

7) Find the future value, compounded continuously for 10 years, at 4.5% interest, of a
continuous income stream with rate of flow 𝑓(𝑥) = 40,000𝑒 −0.04𝑡 . [20]

-END OF EXAM-

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