EEP 101/ECON 125
January 23
rd
2006
HW 0
GSI: Kristin Kiesel
Math Review:
(Don’t hand in but come and see me in office hours if you have difficulty; answers
provided on back)
1.
Graphical analysis
a)
graph the following demand function: p=6-2q (put p on the x-axis and q
on the y-axis)
b)
What is the p-intercept?
c)
What is the q-intercept?
d)
What is the area under the curve? (evaluate using the formula for the area
of a triangle)
e)
Describe the area under the curve using an integral and solve the integral
2.
Derivatives (find
dy
dx
)
a)
y=4x
3
b)
y=ax
b
c)
y=x
-1
d)
y=ln(x)
e)
y=2x
2
ln(x)
f)
y=4
3.
Cost functions
If q is the quantity produced and the total cost is represented by TC=a+2bq-cq
2
,
a)
What is the marginal cost of producing q (MC)?
b)
What is the average cost of producing q (AC)?
4.
Optimization
What value of q maximizes the following utility function: U=-q

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