LUBS 2230
Mathematics for Business
and
Economic Studies 2
Example Class 4 Questions
1
Use the following information to answer questions 1 2
The prices of three interdependent commodities are represented in the following
matrix-vector form:
1 3 7 p1 30

LUBS 2230
Mathematics for Business
and
Economic Studies 2
Example Class 3 Questions
1
Use the information to answer Q1 Q3
Following is the system of two equations for unknown variables x and y.
2 x 6 y 22
x 5 y 53
1. Given the above, the coefficient matr

LUBS 2230
Mathematics for Business
and
Economic Studies 2
Example Class 5 Questions
1
Use the following information to answer questions 1 3
Let the function f be given by f(x, y) = (x3y + 4xy2)(xy + 1) for all x and y.
1. Find out the 1st-order partial de

LUBS 2230
Mathematics for Business
and
Economic Studies 2
Answers
Example Class 5 Questions
1
Use the following information to answer questions 1 3
Let the function f be given by f(x, y) = (x3y + 4xy2)(xy + 1) for all x and y.
1. Find out the 1st-order pa

LUBS 2230
Mathematics for Business
and
Economic Studies 2
Example Class 6 Questions
1
Question 1
Consider the function f defined for all x and y by f(x, y) = x2 + 2xy2 + 2y2
a) Find out the number of stationary (critical) points that the function can atta

LUBS 2230
Mathematics for Business
and
Economic Studies 2
Answers
Example Class 4 Questions
Detailed Answers
Q1 Q2
1 3 7 p1 30
2 4 3 p 2 20
0 3 4 p 25
3
1.
It represents a consistent system of equation as the rank of the coefficient matrix
equal

LUBS2140 INTERMEDIATE MICROECONOMICS
B2.
From Production to Costs
Handout B1 considered the technically efficient production of goods, how the firm is
able to turn inputs into outputs. In this handout, we look at the economically efficient
method of produ