Mathematics for Economics and Business 1 (ECON203)
Faculty of Economics and Management Science (FEMS)
Semester: Resit
Level: 200
Year: 2019
PART one– Dr. Dobdinga
Question one (10 marks)
The supply function for toys is given as:
Where
is quantity of toys supplied, P is the price of toys, is amount spend on advertising
toys. is the price of toys. P = 100, Determine and interpret the: a) price elasticity
of supply b) advertisement elasticity of supply.
Question two (20 marks)
The total cost function for the supply of a kilogram of swine in the Bamenda Main Market is
given as:
while the price per kilogram of swine is 1700F
a) Verify whether the marginal cost curve is concave (5 marks)
b) Determine the profit maximizing output and hence the total profit or loss. (10 marks)
c) Verify that the quantity produced in (a) above actually maximized profit.
Question three (10 marks)
The consumption function of a community is given as:
Find the
marginal propensity to consume (slope) and the equation of the tangent line to the
consumption function at the point (1.5, 500)
PART two - ALGEBRA Dr. Tambi
Question four (5 marks)
An arithmetic progression has 3 as its first term and the sum of the first 8 terms is twice the
su, of the first 5 terms. Find the common difference.
Question five (5 marks)
Find the sum of the geometric series: 8, -4, +2, -1, + … if there are 5 terms in the series.
Question six (10 marks)
Consider the following function
a) What is the largest power of x
b) In your opinion what will be the behavior of this curve
c) What are the roots of the function
d) What is the multiplicity of this function
e) Sketch the graph of the function
THE UNIVERSITY OF BAMENDA
FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES
Resit Course: Maths for Economics and Management 1
Credit Value:
Course Lecturers:
Time: Course Status: Date:
Venue: Instruction:
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Question seven (5 marks)
From the following equation
a) Determine the gradient of the graph of the function
b) Determine the Y-intercept.
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