ECON

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Econ 1088 Midterm 1 Answer Key Topics Covered in the Exam: Chapter 6: Section 1-9 Instructions: There are 8 questions and 100 points total. In order to get full credit, you should show all your work instead of putting down the answers. Please make your final answer clear by writing legibly and placing a box around it. If you are unable to do a problem, you can get partial credit for explaining where you got stuck – doing so will help us to better understand what you know. You have 50 minutes to complete the exam. Good Luck. Question 1 (10 points) Let 2 ( ) 1 f x x x = - + . (a) (5 points) Compute the Newton quotient, ( ) ( ) f x h f x h + - Answer 2 2 ( ) ( ) [( ) ( ) 1] ( 1) (2 1) 2 1 f x h f x x h x h x x h x h x h h h h + - + - + + - - + + - = = = + - (b) (3 points) Write down the definition of '( ) f x and find '( ) f x by definition. Answer 0 0 ( ) ( ) '( ) lim lim(2 1) 2 0 1 2 1 h h f x h f x f x x h x x h x + - = = + - = + - = - (c) (2 points) Give one interpretation for '( ) f x . Answer Either (1) Slope of the tangent; or (2) Rate of change.

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