Mathematics for Economics and Management 2 (ECON2204)
Faculty of Economics and Management Science (FEMS)
Semester: Second Semester
Level: 200
Year: 2017
Question one (15 marks)
Study the following demand and supply functions:
Demand function: 28 – 4Q; supply function: 4 + 2Q.
a) Calculate the consumer’s and producer’s surplus.
b) If a tax of 3FCFA is imposed, examine the effect on the consumer’s surplus
c) Examine the effect of a maximum price of 8FCFA on the consumer’s surplus
Question two: (15 marks)
Study the following cost and price schedules for a firm:
a) Determine a profit maximizing output level and hence the total profit.
b) Verify whether the output in “a” is optimal
Question three (5 marks)
Solve the following differential equations
a)
Question four (7 marks)
Consider a nutritious drink which consists of whole egg, milk, orange juice and diamond oil.
The food energy, protein, lipids and fat and oil for each of the ingredients are given by the
table;
Element Food energy Protein Lipids Fat and oil
1 egg -2 3 -1 0
1 cup milk 3 -2 0 1
1 cup orange juice -1 0 1 2
2 olive oil 0 1 2 3
The producers of the nutria drink are interested to use a quotient to determine their product.
With the use of a 4 by 4 matrix, calculate the determinant of the matrix given that each of the
above elements (food, protein, lipids, fat and oil) represents a column matrix
THE UNIVERSITY OF BAMENDA
FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES
2
nd
Semester C.A Course: Economics for Econs and Management 2: ECON204
Credit Value:
Course Lecturers:
Time: Course Status: Date:
Venue: Instruction:
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Question five (28 marks)
Consider the following matrix
a) What is
? (5 marks)
b) Verify
(4marks)
c) Determine the Eigen values. (4 marks)
d) What are the Eigen values associated to the Eigen values (3 marks)?
e) Derive a new matrix P, considered to be a passage matrix, determine its transpose
(
) (3 marks)
f) If D = PA
, what is D? (9 Marks)
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