Economics 4808 Problem Set 5
1.
U = x1 x 2 x3 . Further assume that the law dictates that Wilbur consume two units of x 2 for every unit of x1 . Determine Wilburs demand function for good 1.
Assume Wilburs utility function is Explain, in words, all the st
Economics 4808 Problem Set 4 1. Consider the utility function U(x, y) = 3x + y. a. b. c. Calculate the marginal utility of x (MUx) and the marginal utility of y (MUy). Is the assumption that more is better satisfied for both goods? Relate your answer to t
Economics 4808 Problem Set #3 1. Describe in words and in mathematical notation the production managers problem and its solution. Make sure to define all of your terms. Then relate the production managers problem to the firms cost function. If you have fo
Economics 4808 First five problems of pretest answers 1. Factor the expressions:
a. axa2
b.
a x+2
See S&H section 1.3
a (1 + m) a (1 + m)m
See S&H section 1.3
a (1 + m)(1 m)
c.
K 4 LK 5
See S&H section 1.3
K 5 ( K L)
2. Expand and simplify: b3
See S&H cha
Tentative Course Outline (Text chapters are in parentheses) 1. Introduction, Models (Theories) and Tools. A brief review of necessary and sufficient, what's a theory (model), variables, functions, sets, and proofs (S&H: chapters 1 and 2, 3.4-3.7 and chapt
Economics 4808 Introduction to Mathematical Economics Fall 2010 Professor: Office: E-mail: Web: Office Hours: Billy Mertens ECON 12 mertens@colorado.edu http:/spot.colorado.edu/~mertens M 1:00 5:00; W, F 11:15 11:45; and by appointment.
Course Description
Economics 4808 Problem Set #2 answers 1. Where is the following function discontinuous?
2
f (x) =
x 5 ; answer: discontinuous at x = -2 and 3. x x6
Find the limit:
2. lim
x 2 + 3x + 2 = -1 x 1 ( x 1) x3 = -1 x3 f ( x + h) f ( x ) h
3.
x 3
lim
4. lim
h 0
i
Economics 4808 Problem Set #2 1. Where is the following function discontinuous?
f (x) =
x 5 x x6
2
Find the limit: 2.
x 2 + 3x + 2 x 1 ( x 1) lim x3 x3 f ( x + h) f ( x ) h
3.
x 3
lim
4. lim
h 0
if
f (x ) = x 2 + 6x
5. Find f(x) if f ( x) =
1 ( x + 4) 2
3
Economics 4808 Problem Set 1 answers 1. Analyze the following epitaph using logic: "Those who knew him loved him. Those who loved him not, knew him not." a. What is the relationship between the two sentences in the epitaph (equivalent, contradictory, etc.
Economics 4808 Problem Set 1 1. Analyze the following epitaph using logic: "Those who knew him loved him. Those who loved him not, knew him not." a. What is the relationship between the two sentences in the epitaph (equivalent, contradictory, etc.)?
b. In