Economics 101
Answers to Second Midterm
June 13, 2011
Student Name :
Section #
:
TA Name
:
Second Midterm
DO NOT BEGIN WORKING UNTIL THE INSTRUCTOR TELLS YOU TO DO SO. READ
THESE INSTRUCTIONS FIRST.
You have 75 minutes to complete the exam. The exam consi
99ba28c9b1535b32eb9d3ea1b547241b597e2b4a.doc
BQT 133
CHAPTER 2 : MATRIX APPLICATIONS
2.1
Introduction
In this chapter we will solve problem for matrix algebra
application. We have two types of application for matrix problem.
First we want to solve the bus
Economics is the study of the choices consumers, business managers, and
government officials make to attain their goals, given their scarce
resources
Economics can be broadly
divided into two areas
Macroeconomics
Microeconomics
Economics gives a better un
Table of contents
1.0Introduction.2
2.0 The organizations motivation plan.3
2.1: High job satisfaction.3
2.2: Low employee turnover.3
2.3: High quality of work.4
3.0Two methods of motivation.5
3.1Extrinsic motivation.5
3.2Intrinsic motivation.
Managerial Economics for
Managers
Nature & Scope
Managerial Economics Defined
The application of economic theory and the
tools of decision science to examine how an
organization can achieve its aims or objectives
most efficiently.
applications of econom
Monopoly
The Meaning of Monopoly
Our First Departure from Perfect Competition
A monopolist is a firm that is the only
producer of a good that has no close
substitutes. An industry controlled by a
monopolist is known as a monopoly. e.g. De
Beers
The abilit
Market Failure: Externalities,
Monopoly, Asymmetric
Information, and Public Goods
Three major functions of
state
Correcting Market failures
Redistribution of income
Promoting and discouraging merit goods and
bads
Measuring Economic
Efficiency
How might w
Long Run Production and Cost
Theories
Isoquant and Isocost
Long Run Production Functions
Long Run All inputs are variable. Q=f(L,K),
where both L & K are variable factors
Variable Proportion Production Function
production functions that allow some
subs
INTRODUCTION
TO
OPERATIONS RESEARCH
TOPICS
Introduction to Operational Research
History of Operational Research
Operational Research in India
Definition of Operational Research
Features of Operational Research
Scope of Operational Research
Methodol
12.70 (a)
1200
1000
800
Passengers ('000)
600
400
200
0
90 95 100 105 110 115 120 125 130 135 140
Average ticket price ($)
bo = 2070.6083 and b1 = -11.8306
(b)
(c)
For each additional dollar of increase in the average ticket price, the number of
passenger
Solutions to selected problems
Week 7 - Tutorial 6
Application problems:
Page 68: problem 57
Let
x 1=number of hours plant A operates
x 2=number of hours plant B operates
Therefore:
10 x1 +8 x 2=K 1
number of car frames produced
5 x1 +8 x 2=K 2
number of
Week 10 - Tutorial 9
Optimisation Solutions
93.
C(x)=0.05x+20+320/x
94.
critical value is 75
decreasing 0<x<75
increasing 75<x<200
local minimum at x=75
86.
Critical value x=50, this is a local maximum point.
Concave down on the whole interval between 0 a
Economics 101
Summer 2013
Answers to Homework #3
Due Tuesday, June 11, 2013
Directions: The homework will be collected in a box before the lecture. Please place your name,
TA name and section number on top of the homework (legibly). Make sure you write yo
1. Finding Present Values: What is the present value of the following future payments: a) $1,210 in 2 years at a 10% discount rate: present value = $1,210/(1.10)2 = $1000 b) $1,259.71 in 3 years at an 8% discount rate: present value = $1,259.71/(1.08)3 =
Week 5 - Tutorial 4
From the book Quantitative Analysis A custom edition, compiled by Ashton de Silva
Page 11: problem 17 to 26 (do a few to practice/warm up)
Application problem:
Problem 70 (page 14)
Further practice:
Problem 71, 73,74,75,76 (page 14)
Week 6 - Tutorial 5
Solving Gauss-Jordan Eliminations
(all problems are from page 34,35,36)
Solve Problems: problem 44, 52 for a warm-up (but feel welcome to do problems 39-54 if you like)
Application Questions: problem 67 and 69 (these questions take pri
Week 4 - Tutorial 3
Topic 3 Time Series Regression
Discuss about Assignment (for Melbourne Students only)
The following exercise is from Berenson et al. Basic Business Statistics.
Questions in Class:
14.6
14.48 (parts a, d-f only). The estimated exponenti
OPERATIONS RESEARCH
eyma
eyma URCAN
URCAN
Industrial
Industrial Engineering
Engineering Department
Department
Dokuz
Dokuz Eylul
Eylul University
University
What Is The Operations Research?
Operational
research,also known
as operations
research,is an
inter