ARE 155 Spring 2010
Final Exam Review Selected EndofChapter Answers
Note: These are good questions to review for the short answer and multiplechoice questions. CHAPTER 1 12. Deterministic models assume that all the relevant input data are known with c
Life and
Mathematics
Quirino Paris, Huan Song and Qinxue
Yao
October 2012
Prepared for junior high school students
and for all those persons
who had the misfortune of studying
under an educational system
that separates life from geometry
and geometry from
ARE 155 UC Davis
Prof. Q. Paris
Lecture 13
Readings: Chapter 14
Derivation of Output Supply Functions
Justification: An entrepreneur (a farmer, for example) likes (needs) to know what her optimal
production plan should be if the market price for her commo
ARE 155 UC Davis
Prof. Q. Paris
Lecture 12
Readings: Chapter 13
Derivation of Input Demand Functions
Justification: An entrepreneur (a farmer, for example) likes (needs) to know what he could/should pay
for acquiring more quantity of a given input (land,
ARE 155 UC Davis
Prof. Q. Paris
Lecture 11
Readings: Chapter 15
Multiple Optimal Solutions
Multiple optimal solutions (MOS) are important in mathematics and in economics.
They provide more flexibility of choice that may satisfy producers preferences. It i
ARE 155 UC Davis
Prof. Q. Paris
Lecture 5
Readings: Chapter 5
A Primer on Vectors, Bases and Cones
A vector is a box containing information. More technically, a vector is a box containing
the coordinates of a point in a given space. Hence, points in a two
ARE 155 UC Davis
Prof. Q. Paris
1.
2.
3.
Lecture 6
Readings: Chapter 6
Solving systems of equations.
Meaning of solving a system of equations.
The PIVOT method.
1. Solving Systems of Equations
The discussion of chapter 5 has shown that the solution of a L
ARE 155 UC Davis
Prof. Q. Paris
1.
2.
3.
4.
Lecture 2
Readings: Chapter 2
The Structure of Duality
Dual Pairs of LP Problems with Equality Constraints
Relation Between Equations and Free Variables
Total Revenue Equals Total Cost
1. The Structure of Dualit
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ARE 155 Spring 2010
Final Exam Review  Selected Solutions Text Form
420. We use the Sensitivity Report given in Screenshot 49 to answer the following questions. (a) Each additional pound of material will increase prot by $0.5. The 2 pounds will therefo