Basic Mathematics for Economists - Rosser - Answers docx

... q) −1.5 3. −0.113 © 1993, 2003 Mike Rosser 4. £81 for extra 65 units 5. £7.50 for extra 25 units 6. q 1 = 48,q 2 = 39,p 1 = £12,p 2 = £8.87 7. (a) 190 units (b) £175 for extra 75 units 5.9 1. q 1 = ... MR = 76 − 0.222Q for Q ≥ 22.5 3. MR = 80 − 0.555Q for Q ≥ 562.5 4. MC = 30 +0.0714Q for Q ≥ 56 5. MC = 56 +0.1333Q for Q ≥ 30 6. MC = 3 +0.0714Q for Q ≥ 59 Chapter 5 5.1 1. q...

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... e-Library, 2003. ISBN 0-2 0 3-4 226 3-5 Master e-book ISBN ISBN 0-2 0 3-4 243 9-5 (Adobe eReader Format) © 1993, 2003 Mike Rosser Basic Mathematics for Economists Economics students will welcome the new edition ... of course, am responsible for any remaining errors or omissions. © 1993, 2003 Mike Rosser Basic Mathematics for Economists Second Edition Mike Ro...

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... quantification of economic predictions requires the use of mathematics. Although non-mathematical economic analysis may sometimes be useful for making qual- itative predictions (i.e. predicting the direction ... lecturer or fellow students for help. When you do ask for help it should be to find out how to tackle a problem. Some students who have difficulty withmathematicstendtocopyanswer...

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... mathematical form of the relationship is not actually known then a function may be written in what is called a general form. For example, a general form demand © 1993, 2003 Mike Rosser ... 1993, 2003 Mike Rosser has been entered only the calculated value appears in the cell where the formula is. However, when you put the cursor on a cell containing a formula, the full formula should ......

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... Rosser (YoucancheckthesesolutionsarethesameasthoseinExample5.14whichhadthesame supplyanddemandfunctions.) Inamodelwithtwodependentvariables,likethissupplyanddemandmodel,oncethe reducedformequationforonedependentvariablehasbeenderivedthenthereducedform equationfortheotherdependentvariablecanbefound.Thisisdonebysubstitutingthe reducedformforthefirstvariableintooneofthefunctionsthatmakeupthemod...

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... 24.5 -6 82 35.5 -2 97 10 3 -3 7 14 -5 98 25 -6 75 36 -2 68 11 3.5 -7 3 14.5 -6 12 25.5 -6 67 36.5 -2 38 12 4 -1 08 15 -6 25 26 -6 58 37 -2 07 13 4.5 -1 42 15.5 -6 37 26.5 -6 48 37.5 -1 75 14 5 -1 75 16 -6 48 ... -6 48 27 -6 37 38 -1 42 15 5.5 -2 07 16.5 -6 58 27.5 -6 25 38.5 -1 08 16 6 -2 38 17 -6 67...

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... 14.14% 12% 4725.54 13 13% 2464.06 14 14% 299.94 15 15% -1 772.14 16 16% -3 757.14 17 17% -5 659.71 18 18% -7 484.20 19 19% -9 234.68 20 20% -1 0914.99 Example 7.30 A firm has to choose between projects ... investment. Example 7.39 What would you pay for an annuity that promises to pay £450 a year for the next 10 years given an interest rate of 8%? © 1993, 2003 Mike Rosse...

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... equal I ? © 1993, 2003 Mike Rosser Example 8.2 Find a formula that gives the slope of the function y = 6x 3 for any value of x. Solution Slope = dy dx = 3 × 6x 3−1 = 18x 2 for any value of x. Example ... function y = 52x 3 . 5. Make up your own single-term function and then differentiate it. 8.2 Rules for differentiation The rule for differentiation can be formally stated as: If y =...

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