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Math Skills Exam

# Math Skills Exam - 1 P Q 4 8 4 8 12 12 Figure 1 T V or M Q...

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SS201 Economics: Principles and Problems Diagnostic Math Skills Exam Department of Social Sciences Academic Year 03-1 Name: ____________________________________ Section: ______ Part I: Understanding Graphs 1. Given the following functions: Demand function: P + 1.5 Q = 12 Supply function: P – 1.0 Q = 2 a. Plot both of the functions on the graph provided in Figure 1. b. Algebraically determine P and Q where the lines represented by the two functions intersect. Show all work. c. On Figure 1, graphically depict P and Q where the two functions intersect. 2. Figure 2 plots the graph of three functions, where: M = f (Q) T = g (Q) V = h (Q) a. Determine M, if Q = 4.5. b. Determine T, if Q = 2.5. c. Determine V, if Q = 1.5. d. Determine Q, where M = V.

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Unformatted text preview: 1 P Q 4 8 4 8 12 12 Figure 1 T, V, or M Q 8 12 2 4 6 M T V Figure 2 4 SS201 Economics: Principles and Problems Diagnostic Math Skills Exam Department of Social Sciences Academic Year 03-1 Part II: Basic Calculus 1. Given the following function: M = -0.5555 L 2 + 3.3333 L a. Using calculus, determine M and L, when M is maximized. Show all work. b. Complete the following table. L 1 2 3 4 5 6 M c. Determine the slope of the line tangent to the function when L = 3. Show all work. d. Plot the function on the graph provided in Figure 3. e. Plot the line tangent to the function when L = 3. 2 1 2 3 4 5 6 1 2 3 4 5 6 7 M L...
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Math Skills Exam - 1 P Q 4 8 4 8 12 12 Figure 1 T V or M Q...

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