Instructor: Ram Sewak Dubey
ECON 317: Solution to PS 3
April 4, 2016
1. [Finding solution of system of simultaneous linear equations]
Consider the following system of linear equations with three unknowns.
6x + 3y + z = 22,
x + 4y 2z = 12,
4x y + 5z = 10
(

Instructor: Ram Sewak Dubey
ECON 317: Solution to PS 4
April 20, 2016
1. [Average cost- Marginal Cost Analysis]
If the total cost of making x gallons of Exall is C(x) dollars where
C(x) = 100 + 3x + 0.01x2 .
(a) Find the expression for the marginal cost o

Instructor: Ram Sewak Dubey
ECON 317: Solution to PS 2
March 30, 2016
1. [Market Equilibrium - I]
(a) Graph the supply and demand functions
Supply
p = 0.1q + 8,
The supply function is a straight line with positive slope of 0.1 and vertical intercept of 8

Instructor: Ram Sewak Dubey
ECON 317: Solution to PS 5
May 4, 2016
1. [Minimum Average cost]
When x gallons of Exall are produced, the average cost per gallon is AC(x) dollars, where,
AC(x) =
200
+ 0.05x, where x > 0.
0.1x + 5
(a) Find the output quantity

Instructor: Ram Sewak Dubey
ECON 317: Solution to PS 1
March 30, 2016
1. [Cost-Output - I]
A printer quotes a price of $5000 for printing 1000 copies of a book and $13000 for
printing 3000 copies. Assuming a linear relationship and that 2500 copies are pr

Chapter 01 The Investment Environment Answer Key
Multiple Choice Questions
1.
The material wealth of a society is a function of
A. all financial assets.
B. all real assets.
C. all financial and real assets.
D. all physical assets.
The material wealth of a