Final%20Exam%20Topics - ECO 3401 Quantitative Tools I,...

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ECO 3401 – Quantitative Tools I, Final Exam Topics Section Linear functions o Given supply and demand functions, determine equilibrium quantity and price. 1.2 o Given fixed cost, variable cost and price, derive a firm’s p rofit function. 1.2 o Given fixed cost, variable cost and price, determine the break-even point . 1.2 Systems of linear equations and matrices o Solve a 2 × 2 system of linear equations using the Gauss-Jordan method. 2.2 o Solve a 2 × 2 system of linear equations using the matrix inverse method. 2.5 Non-linear functions o Use the quadratic formula to solve a quadratic equation. 10.2 o Determine if the graph of a quadratic equation opens upward or downward. 10.2 o Given a profit function in the form P(x) = ax 2 + bx + c , calculate the apex of the graph of the function to determine the profit maximizing quantity x and maximum profit P(x) . 10.2 o Given a cost function in the form C(x) = ax 2 + bx + c , calculate the apex of the graph of the function to determine the cost minimizing quantity x and minimum total cost C(x) . 10.2
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This note was uploaded on 01/12/2012 for the course ECO 3401 taught by Professor Staff during the Fall '08 term at University of Central Florida.

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Final%20Exam%20Topics - ECO 3401 Quantitative Tools I,...

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