Midterm 2 Key (75 points total)
Please:
Sign your name at the top of all exam pages (on the honor pledge) and write your
name neatly at the top of this page
Read each question carefully before writing
Practice Midterm 2
*This practice exam is much shorter than the actual exam and is meant to serve as a guide as to
the kind of questions you will be facing on the exam. Studying only this practice exa
Midterm 1 Key (75 points total)
Please:
Sign your name below and write your name at the top of all paper you use
Read each question carefully before writing your answer
Show all of your workpartial cr
AEB 3510: Midterm 2
Midterm 2
Please:
Sign your name below and write your name in print here: _
Read each question carefully before writing your answer
Write as neatly as possible, I will not give cre
Practice Midterm 1
*Note that this practice exam is much shorter than the actual exam and is meant to serve as a
guide as to the kind of questions you will be facing on the exam. Studying only this pr
Practice Midterm 1
*Note that this practice exam is much shorter than the actual exam and is meant to serve as a
guide as to the kind of questions you will be facing on the exam. Studying only this pr
Midterm 1
Please:
Sign your name below and write your name at the top of all paper you use
Read each question carefully before writing your answer
Show all of your workpartial credit will be rewarded
Application Project 3
1. 60 w 1 
2
2
w 1 + 50 w 21/2 w2 + [ 50w 1w 2 ]
FOC:
w 1=602 w 1=0
Lw2 = 50 w 2 = 0
= 50  w 1w 2
L
60  2 w 1f 50w2
10 2 w 1  w 2 = 0
2 w 1+ w 2 = 0
2 w 1 = 10 
w2
w 1=
Practice Midterm 2
*This practice exam is much shorter than the actual exam and is meant to serve as a guide as to
the kind of questions you will be facing on the exam. Studying only this practice exa
Midterm 1 Key (75 points total)
Please:
Sign your name at the top of all exam pages (on the honor pledge) and write your
name neatly at the top of this page
Read each question carefully before writing
AEB 3510: Midterm 2
Midterm 2 (75 points total)
Sign your name at the top of all exam pages (on the honor pledge) and write your name neatly at
the top of this page
You may use a 3 x 5 notecard for th
AEB 3510
Lecturer: Misti Sharp
Application Project 3: Due Monday, November 6th
Directions: Read the first page and respond appropriately to the following questions. Upload your final project
document
AEB 3510
Lecturer: Misti Sharp
Application Project 2: Due Monday, October 9th
Directions: Read the first page and respond appropriately to the following questions. Upload your final project
document a
AEB 3510: Chapter 5
Lecture based on Dowling Chapter 5: Linear (or matrix) algebra
Lecturer: Misti Sharp
Matrices introduction
Why use matrix algebra?
1) Can express a system of linear equations in a
1
AEB 3510: Chapter 4
Chapter 4: Systems of Equations
Economic models often have many equations which form a system of equations.
The solution to a system of equations is a set of values which concurr
AEB 3510: Equations and Graphs
Lecturer: Misti Sharp
Notes from Dowling, Chapter 2
Equation: a mathematical statement setting two algebraic equations equal to each other
Solution: a number or numbers
AEB 3510: Midterm 1
Midterm 1 (75 points total)
Please:
Sign your name at the top of all exam pages (on the honor pledge) and write your
name neatly at the top of this page
Read each question carefull
AEB 3510
Lecture based on Dowling Chapter 5: Linear (or matrix) algebra
Lecturer: Misti Sharp
Matrices introduction
Why use matrix algebra?
1) Can express a system of linear equations in a simplified
AEB 3510: Lecture 9
Multiplication of matrices
Lecturer: Misti Sharp
and
requires that the matrices be conformable
Multiplication of two matrices AB with dimensions
such that
or the number of columns
AEB3510 – Quantitative Methods in Food and Resource Economics
AEB 3510

Spring 2011
Solutions to Extra Problems for Chapter 9: Question 1 1a. TR' (Q) 0.2Q 4.5 . This derivative represents the change in total revenue resulting from a change in output. In economics, this concept is cal
AEB3510 – Quantitative Methods in Food and Resource Economics
AEB 3510

Spring 2011
Extra Problems Chapter 9
1.
The Total Revenue function for a milk producer is given by
TR(Q) 0.1Q 2 4.5Q 35,
where Q is the quantity of milk demanded (in pounds) and P is the unit price of milk. a) Fi
AEB3510 – Quantitative Methods in Food and Resource Economics
AEB 3510

Spring 2011
Solution to Handout Problems: Chapter 3: 1) This is an application of composite functions a) Q (t ) = Q ( p (t )
=
( 0.04t
64800
2
+ 0.2t + 12 )
2
b)
The Quantity Demanded 10 weeks from now (t = 10)
Q