assignment1.pdf - UNIVERSITY OF THE FREE STATE:...

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1UNIVERSITY OF THE FREE STATE: BLOEMFONTEIN CAMPUSEECM3714INTRODUCTORY MATHEMATICAL ECONOMICSDEPARTMENT OF ECONOMICSASSIGNMENT 1 (INDIVIDUAL)MARKS: 50;TIME: 110 MINUTESThis is an individual assignment, consisting of 8 questions on 2 pages. This assignment counts 20% of yourmodule mark.INSTRUCTIONS1)Answer all the questions. Number your answers clearly!2)Write legibly, using only black or blue ink. Do not write in the margins of your answer sheet.3)Show your work.4)This is an open-book individual assignment: no collaboration is allowed.5)Where necessary, round final answers to the nearestFOURdecimals (except when this yieldsunsatisfactory results).a)Use fractions (e.g.23) and radicals (e.g.āˆš2) for greater accuracy.b)Use scientific notation (e.g.0.000067 = 6.7 Ɨ 10āˆ’5) for answers very close to zero.1.The inverse demand for refined sugar is? =?????+?, while the inverse supply of refined sugar is? = ? + ?. ??š’”.1.1Find the equilibrium price of refined sugar before AND after the imposition of a20%ad valorem tax

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Term
Fall
Professor
JV Heerden
Tags
Economics, Spacely Sprockets

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