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Mathematical Methods for Economics Important Questions

11th Standard

Reg.No. :
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Economics

Answer all the questions

Time : 01:40:00 Hrs
Total Marks : 50

Part A

5 x 1 = 5
1. (y-y1)=M(x-x1) gives the

(a)

Slope

(b)

Straight line

(c)

Constant

(d)

Curve

2. Differentiation of Xn is

(a)

nx(n-1)

(b)

nx (n+1)

(c)

zero

(d)

one

3. The command Ctrl +M is applied for

(a)

Saving

(b)

Copying

(c)

Getting new slide

(d)

Deleting a slide

4. _________ of the line represents the ratio of the changes in vertical and horizontal line.

(a)

Slope

(b)

(c)

Both 'a' and 'b'

(d)

None of these

5. lCT stands for ________

(a)

Information and Communication Technology

(b)

Indian Council for Technology

(c)

International Communication Technology

(d)

Information Course for Technique

6. Part B

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

8. What is the slope function Y = 10x4 when x = 5 =?

9. Define Supply Function?

10. Integrate : $\int { ({ x }^{ 2 } } +x-1)dx$

11. How to open a word document in MS Word?

12. Part C

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

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

15. 1. The demand and supply curves are given by ${ p }_{ d }=\frac { 16 }{ x+4 } and\quad { p }_{ s }=\frac { x }{ 2 }$ Find the consumer's surplus and Producer's surplus at the market equilibrium price.

16. The marginal cost function for producing x units is y = 23 + 16x - 3x2 and the total cost for producing zero unit is Rs.40. Obtain the total cost function and the average cost function.

17. The revenue function and demand function from marginal revenue function. Give the Reason.

18. Part D

4 x 5 = 20
19. Calculate the elasticity of demand for the demand schedule by using differential calculus method P = 60 - 0.2Q where price is (i)zero, (ii)Rs.20, (iii)40

20. Solve by Cramer's rule
$2{ x }_{ 1 }+3{ x }_{ 2 }=7;\\ 2{ x }_{ 1 }+{ x }_{ 2 }=5\\$

21. Find the solution of the equation system:
8x1-2x2-3x3=5 ; 15x1-3x2+2x3=15 ; 7x1-4x2+x3=2

22. Given the demand function Pd = 2S - Q2 and the supply function ps = 2Q + 1. Assuming pure competition, find (a) consumers surplus and (b) producers surplus. (Pd = Demand price; Ps = Supply price)