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ECO406 Mathematical Economics assignment no 01 solution and discussion due date 08-12-2014

ECO406 Mathematical Economics assignment no 01 solution and discussion due date 08-12-2014

MATHEMATICAL ECONOMICS (ECO406)
ASSIGNMENT NO. 01
DUE DATE: 8DEC, 2014
MARKS: 20
ASSIGNMENT:
Question No. 1
Assume that total cost ‘C’ of a firm for daily output Q is given by the function,
C= 100+20Q and maximum daily productivity capacity of the firm is 300 units of
the output. Find the domain and the range of the function.
(Marks: 5)
Question No. 2
Obtain the linear equation of demand or supply from the following:
(Marks: 5)
Question No. 3
Which of the following are identities and which are equations, and why?
i. (2x+3y)2
=12(xy+3)
ii. (x+3)2
=x
2
+6x+9
(Marks: 2.5+2.5)
P 10 12
Q 12 10 Question No. 4
Solve the following equation and find the values of independent variables.
1. 5x + 10 – 7(15-x) =0
2. 2448
5 2 10 3
x x
x x
    
(Marks: 2.5+2.5)

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Please Discuss here about this assignment.Thanks

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1st qustion solution 

 

DOMAIN :

0<=Q<=300

 

RANGE :

 

Total cast at zero point will be :

 

C=100+20(0)

C=100+0

C=100

Total cast at 300 output will be :

 

C=100+20(300)

C=100+6000

C=6100

 

100<=C<=6100

 

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