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Published on: 13/05/2022
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Questions + Answers key
Take MCQ Business Maths and Statistics Test

1.
Find the stationary value and the stationary points f(x) = x2 + 2x – 5.
2.
Find the elasticity of demand in terms of x for the following demand laws and also find the output (x), when the elasticity is equal to unity.
(i) p = (a - bx)2
(ii) p = a - bx2
3.
A firm produces x tonnes of output at a total cost of C(x) = \(\frac { 1 }{ 10 } \)x3 - 4x2 - 20x + 7 find the
(i) average cost function
(ii) average variable cost function
(iii) average fixed cost function
(iv) marginal cost function and
(v) marginal average cost function.
4.
For the function y = x3 +19 find the values of x when its marginal value is equal to 27.
5.
Find the elasticity of supply for the supply function x = 2p2 - 5p + 1, p > 3.
1.
Given that f(x) = x2 + 2x – 5 … (1)
f '(x) = 2x + 2
At stationary points, f'(x) = 0
\(\Rightarrow\) 2x + 2 = 0 \(\Rightarrow\) x = –1
f(x) has stationary value at x = –1
When x = –1, from (1)
f(–1) = (–1)2 + 2(–1) – 5 = – 6
Stationary value of f (x) is – 6
Hence stationary point is (–1,–6)
2.
(i) p = (a - bx)2
\({dp\over dx}=2(a-bx)(-b)=-2b(a-bx)\)
Elasticity of demand (\(\eta _d\)) \(={-p\over x}.{dx\over dp}\)
\(\Rightarrow -{(a-bx)^2\over x}({-1\over 2b(a-bx)})={a-bx\over x(2b)}\)
When \(\eta_d=1\)
\(\frac{a-b x}{2 b x} =1 \)
\(a-b x =2 b x \)
\(3 b x =a \)
\(x =\frac{a}{3 b} \text { units }\)
(ii) \(p=a-b x^2\)
\(\frac{d p}{d x}=-2 b x\)
\(\eta_d\) Elasticity of demand \(=-\frac{5}{x} \frac{d x}{d p}\)
\(=-\frac{a-b x^2}{x} \cdot \frac{1}{-2 b x}\)
\(=\frac{a-b x^2}{2 b x^2}\)
When \(\eta_d=1\)
\(\frac{a-b x^2}{2 b x^2}=1\)
\(a-b x^2=2 b x^2\)
\(3 b x^2=a \Rightarrow x^2=\frac{a}{33}\)
\(N=\sqrt{\frac{a}{3 b}}\)units
3.
Given C(x) \(=\frac { 1 }{ 10 } { x }^{ 3 }-4{ x }^{ 2 }-20x+7\)
(i) AC = Avarge Cost = C/x \(=\frac { { x }^{ 2 } }{ 10 } -4{ x }-20+\frac { 7 }{ x } \)
(ii) AVC = Avarge Variable Cost = f(x)/x
\(=\frac { { x }^{ 2 } }{ 10 } -4{ x }-20\)
(iii) AFC = Avarge fixed Cost = \(\frac { k }{ x } =\frac { 7 }{ x } \)
(iv) MC = Marginal Cost = \(\frac { dc }{ dx } \)
= \(\frac { 3x ^ 2 }{ 10 } { }-{8x }-20\)
(v) MAC = Marginal Average Cost = \(\frac { d (AC) }{ dx }\)
= \(\frac { x }{ 5 } -4-\frac { 7 }{ { x }^{ 2 } } \)
4.
y = x3 + 19
\({dy\over dx}=3x^2 \ \ \ ...(1)\)
\({dy\over dx}=27\ \ \ ...(2)\) [Given]
From (1) and (2), we get
3x2 = 27 ⇒ x = ±3
5.
x = 2p2-5p+1
\({dx\over dp}=4p-5\)
Elasticity of supply: \(η_s={P\over x}.{dx\over dp}\)
\(={p\over 2p^2-5p+1}.(4p-5)\) \(={4p^2-5p\over 2p^2-5p+1}\)
11th Standard Syllabus & Materials
11th Standard
TN 11th Tamil பீடு பெற நில் - செய்யுள் - காவடிச்சிந்து Important Questions And Answers Study Material - QB365 Set A
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Tamilnadu Stateboard 11th Standard Subjects

Maths

Commerce

Economics

Biology

Business Maths and Statistics

Accountancy

Computer Science

Physics

Chemistry

Maths

Biology

Economics

Physics

Chemistry

History

Business Maths and Statistics

Computer Science

Accountancy

Computer Applications

History

Computer Technology

Commerce

Computer Applications

Computer Technology

Tamil

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