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ef2452_B07_PS4

# ef2452_B07_PS4 - jeans by using the method of row...

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Mathematics for Economics & Finance (EF 2452) Problem Set#4 Due: Week 5 Tutorial Class Please write your name, student ID and tutorial number on top of your answer sheet. Q1. Solve the following system of equations using the method of matrix inversion. Show your work. 4 x + 5 y = 2 11 x + y + 2 z = 3 x + 5 y + 2 z = 1 Q2. Consider the following system of equations: x 1 + x 2 + x 3 = 2 q 2 x 1 - 3 x 2 + 2 x 3 = 4 q 3 x 1 - 2 x 2 + px 3 = q For what values of p & q does this system have: (i) a unique solution, (ii) several solutions or (iii) no solution? Q3. Consider the following two-good market demand and supply model, where Q guess & Q lee are the quantities of Guess and Lee jeans respectively, while P guess & P lee are their respective prices. Solve for the equilibrium quantities and prices for the two

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Unformatted text preview: jeans by using the method of row operations on the augmented matrix of coeFcients to derive the echelon matrix . Demand ( GuessJeans ) : Q guess = 18 - 4P guess-P lee Supply ( GuessJeans ) : Q guess = 9 + P guess + P lee Demand ( LeeJeans ) : Q lee = 14 - 4 P guess-3 P lee Supply ( LeeJeans ) : Q lee =-4 + 4 P guess + 2 P lee Q4. Three truck drivers went into a convenience store. One truck driver purchased four pork dumplings, a cup of coFee and ten mu±ns for \$84.5. Another driver purchased three pork dumplings, a cup of coFee and seven mu±ns for \$63. What did the third truck driver pay for a pork dumpling, a cup of coFee and a mu±n?...
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ef2452_B07_PS4 - jeans by using the method of row...

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