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11th Standard English Medium Economics Subject Mathematical Methods for Economics Book Back 3 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 15

    3 Marks

    5 x 3 = 15
  1. Illustrate the uses of Mathematical Methods in Economics.

  2. Solve for x quantity demanded if 16x - 4 = 68 + 7x

  3. A firm has the revenue function R = 600q - 0.03q2 and the cost function is C = 150q + 60,000, where q is the number of units produced. Find AR, AC, MR and MC.

  4. Solve the following linear equations by using Cramer's
    x1 - x2 + x3 = 2;
    x1 + x2 - x3 = 0;
    -x1 - x2 - x3 = -6

  5. If a firm faces the total cost function TC = 5 + x2 where x is output, what is TC when x is 10?

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