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Question No 1
( A)
Differentiate the following functions with respect to x:
a) y = eax + b
b) y = log ax + b
cx + d
c) y = ax + xa
a)
b)
c) xax-1 + a
P=d a^x + X^a/ dy
= A x ^x-1 + aXa^a-1
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(B)
(a) If y = x + (1/x) , show that 2x (dy / dx) y + (2 /x) = 0
Answer
y = [x - {1- (1/x) }^-1 ]^-2 ==> 1/ [x - { (x - 1)/x) }^-1 ]^2
==> 1/ [x - { x /(x - 1) } ]^2 ==> 1/ [(x^2 - x - x) /(x - 1) ]^2
==> 1/ [(x^2 - 2x ) /(x - 1) ]^2 ==> (x - 1) ^2 / [(x^2 - 2x )^2
Now to differentiate this use u/v rule i.e. (d/dx)(u/v) = [v*u' - u*v']/v^2
so dy/dx = [(x^2-2x)^2*2(x-1) - (x -1)^2*2(x^2-2x)*(2x-2)]/(x^2 - 2x )^4
=> 2(x-1)(x^2-2x) [(x^2-2x) - 2 (x - 1)^2]/(x^2 - 2x )^4
=> 2 [(x^2-2x) - 2 (x - 1)^2]/(x^2 - 2x )^3
=> -2 [(x^2 - 2x + 2 ]/(x^2 - 2x )^3
P(x) dx
-2 x dx
=e
= e - x2
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We now substitute u(x)= e - x2 and Q(x) = x in the equation u(x) y = u(x) Q(x) dx
to obtain
e - x2 y = x e - x2dx
Integrate the right hand term to obtain
e - x2 y = -(1/2) e-x2 + C , C is a constant of integration.
Solve the above for y to obtain
y = C ex2 - 1/2
As a practice, find dy / dx and sustitute y and dy / dx in the given equation to
check that the solution found is correct.
p2 + q2 =20 and 2p + q = 8
where p is the price and q is the quantity. Determine the equilibrium price and
quantity.
Answer
A travel agency has chartered a bus to Shimla for college students. The charge is Rs.100
with an additional charge of Rs.2.50 for each subsequent cancellation. The bus has a
seating capacity of 50 passengers. Determine the total revenue R(x), as a function of x,
the number of cancellations received prior to the departure date. What is the value of x
for which R(x) is maximum?
P(x) = - 50x2 +100x + 2.50
P'(x) = -2x + 100 = 0
x = 50
Question No 3
(i)
The production team of Revlon calculates that it can sell out all the
products that it produces at the rate of Rs.2 per unit. It estimates the
cost function for the product to be: 1000+0.5 (Q/50)2 for Q units
produced. Find the number of units sold that will maximise the
companys profit; and what is the amount of the maximum profit?
Answer
P (X) = 1000 + (q^2/2500)
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P`(X) = 100-.5Q = MC = 2Q
1000 0.5Q = 2Q
100 0= 2Q + 0.5Q
100 0= 2.5Q
100/02.5=Q
400=Q*
Hence producing Q*=400 will maximise profits, as the monopolist captures all
of the consumer surplus
(ii) The function describing Marginal Cost is defined as 4x +1,500, where x is the
number of units produced. It is estimated that the total cost equals Rs.40,200 for
every 10 units produced. Determine the total cost function.
Answer
C(X) = Intg (4x +1,500) dx
= 4x^2/2+ 500x+ K
K is a constant and the c (O) = FC= 10
So the cost function would be
C (X) =
4x^2/2+ 500x+4020
Question No 4
P = 86-25x
86 = 25x
X = 86/25
= 3.44
(ii) p = 280/x2
MR=(TR)'= 560x
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TR=4.62475*63.002 = 291.369
TC=265.446
Profit=TR-TC=25.9223
(II)
MC = 2 4x + 3x2
MC(q) = 0.012 q2 - 0.14 q + 5.4
Total variable cost = .12*4 +.14*4+5.4
= .4.8 + .56 +5.4
= 8
y = 8e-q/200p
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