Mathematical Methods for Economics Book Back Questions

11th Standard

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Economics

Time : 00:45:00 Hrs
Total Marks : 30
    5 x 1 = 5
  1. Mathematical Economics is the integration of

    (a)

    Mathematics and Economics

    (b)

    Economics and Statistics

    (c)

    Economics and Equations

    (d)

    Graphs and Economics

  2. The first person used the mathematics in Economic is

    (a)

    Sir William Petty

    (b)

    Giovanni Ceva

    (c)

    Adam Smith

    (d)

    Irving Fisher

  3. Suppose D=50 - 5P when D is zero then

    (a)

    P is 10

    (b)

    P is 20

    (c)

    P is 5

    (d)

    P is -10

  4. Suppose determinant of a matrix Δ = 0, then the solution

    (a)

    Exists

    (b)

    Does not exists

    (c)

    is infinity

    (d)

    is zero

  5. State of rest is a point termed as

    (a)

    Equilibrium

    (b)

    Non-Equilibrium

    (c)

    Minimum point

    (d)

    Maximum point

  6. 3 x 2 = 6
  7. Find the average cost function where TC = 60 + 10x + 15x2.

  8. What are the Main menus of MS word?

  9. Integrate: \(\int { 4{ \quad x }^{ 3 } } dx\)

  10. 3 x 3 = 9
  11. Illustrate the uses of Mathematical Methods in Economics

  12. What are the steps involved in executing a MS Excel sheet

  13. Find the value of x and y in the equations by uisng cramer's rule. x + 3y = 1 and 3x -2y = 14

  14. 2 x 5 = 10
  15. The demand and supply functions are Pd= 1600 -x2 and Ps = 2x2 + 400 respectively. Find the consumer's surplus and producer's Surplus at equilibrium point

  16. A manufacturer estimates that, when units of a commodity are produced each month the total costs will be TC(Q) = 128 + 60Q + 8Q2.·Find the marginal cost, average cost, fixed cost, variable cost, average fixed cost and average variable cost.

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