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Worksheet

customer handling

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14 views2 pages

Worksheet

customer handling

Uploaded by

Ebisa Abera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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WOILAITA SODO UNIVERSITY

COLLEGE OF BUSINESS AND ECONOMICS


DEPARTMENT OF ECONOMICS IN TERCHA CAMPUS
Worksheet for mathematical economics
Prepared By: Yonas K. (Msc.)

.075
1. Given a non- linear demand function, p = (1500 -0.2q) . Differentiate
3 5
2. Given the implicit function ƒ (x, y) = 7x - 2x y + 3xy 2 = 55, find dy/dx .

3 2
3. Q = 78 / P + 2P +7p, Find the derivative of the inverse function.

4. Given 67 (3x2 + 2x) dx, find the value of the function.
5. Given the following national income mode,

Y = C+ I0 + G0
C = 50 + 0.6 (Y-T)
T = 75 + 0.4Y

I0 = 11

G0 = 98

FindΥ , C and T by showing each step.


6. Given the functions
2 2
U = 5x1 + 3x2

V = 9x1 +4
Determine Jacobian determinant and interpret its result.
7. Suppose a consumer uses two goods with utility function U=4xy+5y subject to the budget constraint 7x
+5y =180.
Determine the amount of x and y with maximize utility, the bordered Hessian determinant and interpret
its value.
4 3 2
8. Find the minimum and maximum values of the function f (x) = 12x −24x + 18x + 15.
1
9. Find the profit maximizing output for a firm with the total cost function TC = 3 Q3 − 8.5Q2 +

97Q + 4 and total revenue TR = 58Q − 0.5Q2.


10. A firm produces two products that are sold in two markets with the demand schedules
P1 = 600 - 0.3Q1 and P2 = 500 - 0.2Q2. Production costs are related and the firm faces the total
cost schedule TC = 16+1.2Q1 + 1.5Q2 + 0.2 Q1Q2
• Determine the profit maximizing level of output and price in each market.
• Determine the maximum profit of the firm

11. A firm selling in a perfectly competitive market where the ruling price is 40 birr can buy inputs K and L at
prices per unit of 20 birr and 6 Birr respectively and operates with production function
0.4 0.2
Q = 21 K L , what is the maximum profit?

12. Suppose the prices of inputs K and L are 12 birr and 3 birr per unit respectively and the production
function of the firm is Q= 25K 0.5 L 0.5 . Determine the minimum costs of producing 1,250 units of output
using Lagrange multiplier method
13. Suppose a consumer has a utility function of U = 40x0.5 y0.5 .If the price of x is 20 birr per unit, price of
y is 5 birr unit and the consumer has a budget of 600 birr . Determine the amount of x and y which
maximize utility using the Lagrange multiplier method.
14. Suppose a firm faces the production function Q = 120 L + 200K - L 2 - 2K 2 for positive values of Q.
If it can buy L at 5 birr per unit, K at 8 birr per unit and has a budget of 70 Birr, determine the maximum
output that it can produce using substitution method.
15. Given the demand function as P = 500 -2Q where P and Q are price and quantity demanded
respectively. Find Marginal revenue at P = 100. What happens to the total revenue at this point? --

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