Mathematics for Economic Analysis, 4ECON007C Semester 1, 2017-2018

Tutorial 1 Univariate Functions

Section Mathematics

1) a) {8, 9, 10}; b) {1, 2, 3, 4, 5}; c) {1, 0, 1, 2}; d) x R : x 13; e) x R : 1 x 3.

2) a) False; b) False; c) True; d) True; e) True; f) True; g) True.

3) a) , {3}, {5}, {7}, {9}, {3, 5}, {5, 7}, {7, 9}, {3, 7}, {3, 9}, {5, 9}, {3, 5, 7}, {3, 5, 9}, {3, 7, 9},
{5, 7, 9}, {3, 5, 7, 9}; b) , {2}, {4}, {11}, {15}, {2, 4}, {4, 11}, {11, 15}, {2, 11}, {2, 15}, {4, 15},
{2, 4, 11}, {2, 4, 15}, {2, 11, 15}, {4, 11, 15}, {2, 4, 11, 15}.

4) a) {2, 3, 4, 5, 6, 7, 9}; b) {3, 5} c) {1, 7, 9, 11, 15}; d) {1, 2, 4, 11, 15}; e) {1, 11, 15}; f) {11, 15};
g) {3, 5}.

5H) a) x R : 0 x 3; b) x R : 2 x 2.5.

6H) a) All WIUT students who are not taking EAP; b) All students taking EAP or those who are retaking
FE only; c) All students who are taking both FE and WWW; d) or All students who are retaking
WWW only.

7) a) D(y) = (; +); E(y) = (; +); b) D(y) = (; +); E(y) = [1; +);

c) D(y) = (; +); E(y) = (; 1]; d) D(y) = (; +); E(y) = (0; +);
eH) D(y) = (; +); E(y) = (; +); fH) D(y) = (; +)/4; E(y) = (; +)/0;
gH) D(y) = (; +)/0; E(y) = {1; 1}.

8) y = x(100 x); D(y) = (0; 100); E(y) = (0; 2,500].

9) a) y = (x + 2)/3; bH) y = 4 2x.

Graphs of a function and its inverse are symmetric with respect to the line y = x.

10) a) 1) x4; 2) 4x; 3H) 2^2^x; 4H) 2^x^2; bH) 4) x^(x^(x+1))

11) a) V = x(8 2x)(6 2x); b) 1; 3 3.

12H) 500/2 + 500/x = 500/8; x = 8/3 minutes = 2 hours 40 minutes.

Section Economics

4
13) y q 24.9; 18.50
25

14h) c=3q+10, 115

15) QD = 90P + 1,080

16) a) QE = 10; PE = $28; b) QE = 8; PE = $32; $4 is paid by consumers; $1 is paid by suppliers.

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Mathematics for Economic Analysis, 4ECON007C Semester 1, 2017-2018

17) a) TR = 800 30Q; b) TC = 150; c) = 350.

18) aH) TR = 4Q; bH) TR = 5; c) TR = 10Q 2Q2.

19) a) Q = 0; TRMax = + at (Q; P) = (+; 4);

b) Q doesnt exist; TRMax = 5 at infinitely many pairs of (Q; P), which satisfy Q 5/Q = 5;
c) Q = 0 and 5; TRMax = 12.5 at (Q; P) = (2.5; 5).

20) a) P = 50 4Q; b) P = 10/Q.

21) TC = 1 + Q(Q + 1); AC = Q + 1 + 1/Q.

22H) a) AC = 4.5 + 120/Q; b) Q = 80; c) Gradually falls

23) = 2Q2 + 20Q 32; a) Q1 = 2; Q2 = 8; b) Q = 20; c) Q = 5.

24H) a) Q1 = 1; Q2 = 5; b) Q = 3.

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