Problems Seminar 1 Mathematics 1 for Economics

• Problem 1
1
Given is the function
= 2
(x ) x −=
y f= ( ).
x2
a) Find the domain and range of this function.
1 1 f (x + h ) − f (x )
b) Compute f (3), f (−1), f (x + h ), f ( ), and .
x f (x ) h
c) Find the inverse function x = f −1(y ) , with the domain of f restricted to x < 0 .

• Problem 2
2
a) Given are the following functions: F (t ) = t 2 + 7t + 1 and G (t ) =
t −1
Compute ( F  G )(t ) = F (G (t )) and (G  F )(t ) = G ( F (t )) .
b) Given is the following function: f ( x) = x 2 + 2 x − 1 . Compute ( f  f )( x) = f ( f ( x)) .

• Problem 3

Solve the following inequalities:

a) −3 x 2 + 9 x + 12 ≤ 0 d) 2 x 2 ≤ 12 x − 18

b) 7 x 2 − 28 > 0 e) x 2 + 2 ≥ 2 x 2 − 3 x − 4

c) 2 x 2 − 14 x ≥ 36 f) − x 2 + 3 < 8 x + 19

• Problem 4

Find for which values of p, q, r and a the following quadratic equations have zero, one or two
solutions:

a) px 2 + 6 x + 5 =0 c) x 2 + 6 x + r =0
b) x 2 + qx + 5 =0 d) ax 2 + 1 =0

• Problem 5

a) Solve the following inequality: 2t − 5 > − 1

b) Solve the following inequality: x3 − 5 x 2 − 3x + 3 ≤ 0
a 4 − 16
c) Simplify: ( a ≠ − 2)
a+2
d) Determine all solutions of the inequality: ( 52 x − 34 )( 16 x + 73 ) ≥ 0
• Problem 6

3 − 8x
a) Solve: 2x >
2x − 2
−1
b) Solve: − 1 > − 2x
2x
 Problems Seminar 1 Mathematics 1 for Economics

Skills Questions

4
9 + 132
Question 1 Calculate and simplify your answer.
2
3 + 134

Question 2 Write the following as simple as possible as a product of powers ( a ⋅ u n v m wk ):

(u v )
w ⋅ ( 2u 3 ) ⋅ ( −4u 3 ) .
4 3 5
2 4

2
x 6 y −4 z 7
Question 3 Rewrite with positive exponents that cannot be simplified: 3 3 .
x −6 y 8 z 4

3 ( v − 5 ) − 6 ( v 2 − 25 )
2
Question 4 Factorize the following expression completely:
w8 − w4 − 12
Question 5 Simplify as much as possible and remove all brackets: .
w8 + w4 − 20
Question 6 Determine all solutions z of the equation ( 3 z + 7 )2 =
17 .

Question 7 Given is the polynomial x 6 − 3 x 3 − 10 .

Factorize the given polynomial and determine all solutions of the equation x 6 − x 3 − 10 =
0.
Question 8 Given is the polynomial y − 4 y − 140 .

Factorize the given polynomial in two factors that are linear in y and determine all solutions of
the equation y − 4 y − 140 =
0.
1 5
Question 9 Given is the polynomial + − 36 .
( x + 4) 2
x+4

1
Factorize the given polynomial in two factors that are linear in and determine all solutions of
x+4
1 5
the equation + − 36 =
0.
( x + 4) 2
x+4

Question 10 Determine all solutions x of the equation ( 4 x − 1)( 4 x + 1) =− 4x .

 Problems Seminar 2 Mathematics 1 for Economics

• Problem 1
Solve the following inequalities:
5 + 2 ( 13 ) ≥ 23 (1.1)
x x
a) b) > 25
1 − 1.05− x 1.14 x − 1
1000 ⋅ ( 12 )
3 x− 7
c) < 6.8 d) < 65 e) < 125
0.05 0.14
• Problem 2
Solve the following (in)equalities:
a) 2 ⋅ (10) x + (10) x+1 =
4 b) log 4 ( 2 x + 4 ) − 3 =log 4 (3)
c) log 2 ( 5 x + 1) =4 − log 2 ( 3 x − 2 ) d) ln(e x − 3) < − x
ln ( x 2 − 9e 2 ) − ln ( x − 3e ) < 3 4 + ln( x) < ( ln( x) + 2 )
2
e) f)

• Problem 3 Solve the following inequalities:

log 3 ( 3 x ) > 3 ( )
x
a) f) 1
e2
≥ 1e
−5 < ( 15 ) ln ( 2 x ) > 2
x
b) g)
c) 31 − x ≤ 6 h) log 2 ( x ) < − 3
d) ln x < 0 i) ln ( e 2 x ) > 2
 1 
e) log 3 ( 2 x − 4 ) < log 1   j) − log ( ) (2 x − 1) > 1
3  4− x 
1
( ) 3

 x3 x − 2 
• Problem 4 Rewrite: ln  7 
 ( x − 1) 

• Problem 5
Find the inverse x = f −1 ( y ) and find the domain and range of this inverse function:
2x −1
a)=y ( x)
f= b) y =f ( x) =−
1 3− x
x+2

• Problem 6
Rewrite the following expressions as powers of e or as natural logarithms (ln):
a) 2x e) log10 ( x)
2
b) 5x f) log 3 (1) + log 3 (4) + log 3 (7) − log 3 (14)
log(4)
c) 16 x ⋅ 3x g)
log(e)
d) 4 x ⋅ 33 x h) ln(ee )

• Problem 7
a) Solve: 2 x ⋅ log(3 x − 1) > 0
b) Rewrite the following expression as power of e : 2e
 Problems Seminar 2 Mathematics 1 for Economics

• Problem 8
a) Solve the following inequality: 2 ⋅ 8 x + 2 x +1 > 5 ⋅ 4 x
(1 4 x ) + 3 with domain D f = (− ∞, a] . Find the highest
2
b) Given is the function f ( x) =−
possible value for a so that f has an inverse function f and give the corresponding
−1

−1
function definition x = f ( y ) .

The relationship between the price p and the quantity demanded q of a certain good is given by the
=
demand function q f= ( p ) 10 − 0.04 p + 2 with p > 0 and q > 0 .
c) Find the inverse function p = f −1(q ) .
d) For which prices is the quantity demanded smaller than 0.1?

• Problem 9
a) ) ln ( 4 + 3ln(−2 + 4 x) ) . Find the domain of this function and the
Given is the function f ( x=
domain of the inverse function.
b) Determine all solutions x of the inequality e3 x − 4 ≥ 1 .
c) Find the domain and the range of the inverse function and an explicit formula for
−2 x − 3
the inverse function of the following function: h( x) = .
−3 x + 4

Skills Questions
1 1 2
Question 1 Determine all solutions x of the inequality x −3≤ x + .
6 9 3
Question 2 Given is the function y = − x2 + 2 x − 5 .
f ( x) =
a) Does the function have a maximum or a minimum? What is the maximum/minimum value? For
which x-value is the maximum/minimum attained?
b) Find the intersection point of the graph of the given function with the y-axis and with the x-axis.
c) Determine the range of the function.
Question 3 Determine all solutions x of the equation log x ( 3 x + 4 ) =
2 .

Question 4 Determine all solutions x of the equation log 4 ( −2 x − 6 ) + log 4 ( − x − 4 ) =1.

2 − 7x
1
Question 5 Determine all solutions x of the equation 53 x + 5 =  
 25 
Question 6 Determine the derivative of f ( x) =5
(
x ⋅ 10 x5 − 20 x 4 + x3 . )
x 7 + 10 x 4 − 13 x
Question 7 Determine the derivative of f ( x) = .
2x
−5
Question 8 Determine the derivative of f ( x) = .
4 x − 3x 4
7

3x + 5 y =20
Question 9 Find the solution of the following system of equations: 
5 x + 7 y =
24
 3x − 2 y − z = 16

Question 10 Find the solution of the following system of equations:  x − 2 y − 12 z =56
2 x − 8 y − 5 z =48

 Problems Seminar 3 Mathematics 1 for Economics

Problem 1 Find the derivatives of the following functions:

f ( x ) = 4 x3 + 7 x − 3 ( 7 x − 2 ) ( 4 x − 1)
f ( x) =
2
a) f)
−5
b) f ( x=
) + 24 x g) =y x2 + 4
x2
c) ( x − 1) ( x3 − 7 )
f ( x) =

( 4x − 2)
4
4− x
d) f ( x) = h) y=
7x − 2 3x 2 + 7
3 x 4 x ( 7 x + 1)
2
e) f ( x )= 3x 2 + 2 x − 1 i) y =−

• Problem 2 Use the limit definition of derivatives.

a) Find f ' ( a ) for f ( x ) = x 2 .

b) Compute f ' ( 3) for f ( x ) = x 2 + 3 x + 4 .
1 2
c) Show: f ( x) =
2
⇒ f '( x) =
− 3.
x x
3
d) Show: f ( x) =x x ⇒ f '( x) = x .
2
1 1
e) Show: f ( x) = ⇒ f '( x) =− 2.
2x 2x

• Problem 3 Find the derivatives of the following functions:

1
a) f= (
(t ) 5 t 3 − e 2 ) b) f ( x) =
4 x5
7 1
c) f ( x) = d) y=
9x 2 x
3q 2 + 4q − 2
( )
2
e) f ( x) =−3 x 2 ⋅ x3 f) f (q) =
q
7 x3 + x
g) f ( x) =
6 x

• Problem 4
Find the equations for the tangent to the graphs of the following functions at the specified points:
a) f ( x) = 3x 2 + 2 x + 4 , for x = 0 . b) ) 22 + 2 x 2 , for x = 1 .
g ( x=

c) y=
(
x 2 − x2 ), for x = 4 . d)
5
, y= for x = 2 .
x 1 − 3x
1 1 − x2
e) y= 3 , for x = 2 . f) y= , for x = 4 .
x 5
g) Find the equation for the tangent to the graph of y =x 4 − 31x + 11 in the point in which
the slope of the tangent is equal to 1.
 Problems Seminar 3 Mathematics 1 for Economics

• Problem 5
−4 x + 1
Find the equation of the tangent line at the graph of the function f ( x) = in the point
−2 x + 2
where x = − 2 .

• Problem 6
−2 x5 + 7 x3 + 3 x
a) Determine, if possible, lim .
x →0 3x5 + 9 x3 − 5 x
−2 x5 + 7 x3 + 3 x
b) Determine, if possible, lim .
x → −∞ 3x5 + 9 x3 − 5 x
2+ x −2
c) Determine, if possible, lim .
x→2 x−2
4−2 4+ x
d) Determine, if possible, lim .
x →0 x
4−2 4+ x
e) Determine, if possible, lim .
x →∞ x

• Problem 7
a) Solve the following inequality: ln(1 − 3 x) < 3
b) Solve: 2 log(2 +=
x) log ( 25x + 1) + 2
c) 3 log ( 2 x − 3)
Solve: log 2 (5 + 2 x) =− 1
2

Skills Questions

Question 1 (
Determine all solutions x of the inequality ln(6 x) ≤ ln x 2 + 8 . )
Question 2 Determine all solutions x of the inequality ln(6 − x) + ln(3) ≤ 2 ln ( x ) .

Question 3 Determine all solutions x of the inequality log 3 ( x ) ≤ 2 + log 3 ( 3x ) .

Question 4 Determine all solutions x of the inequality log 4 ( x + 1) + log 4 ( 2 x ) < 1.

Determine all solutions x of the equation log 3 ( 4 − 5 x )  =

2
Question 5 2.
 
Question 6 Determine all solutions x of the equation −2 log 2 x + 8log8 x =
4.
Question 7 Determine all solutions x of the inequality 2*55 x−6 > 8 .

Question 8 Determine all solutions x of the inequality 7 * e − x +3 < 6 .

Determine all solutions x of the inequality 5−6 x +3 ≤ ( 125 )

−2 x −8
Question 9 1
.

Determine all solutions x of the inequality 3−3 x + 7 ≥ ( 271 )

−4 x + 5
Question 10 .
 Problems Seminar 4 Mathematics 1 for Economics

• Problem 1 Differentiate the following functions:

1+ x
a) y=e 1− x
f) y= x 3 ⋅ 3x
1
y =( x + 2 ) ⋅ e 2 x
2
b) y= g)
ln x
2
c) y = 100log x h) y x 2 ⋅ e− x
=
d) =z ln y + ( y ) i) (
y = ln x3 ⋅ 4 2 x + 1 )
x
e) y=
ex
j)=y log w2 + w ( )
• Problem 2
( )
y ln x 2 − 3 x − 3 in the point with x = 4.
Find the equation for the tangent to the graph of =
• Problem 3
Find the equation for the tangent line to the following curves in the given points by using implicit
differentiation.
a) x + xy + y 2 =7, in the point (1,2).
b) y2 + y =ln( x) in the point (1,-1).
c) x3 + xy + y 2 =
−1 , in the point (-1,1).
d) x2 + y 2 =
2 xy , in the point with x = 3.
e) A curve is given by the equation: 4 x 2 + 9 y 2 =
16 . Find the coordinates of the
intersection points of this graph with the x-axis and the y-axis. Find the equation for
the tangent line to this curve in the point with x-coordinate x = 2.

dy
• Problem 4 Find by implicit differentiation.
dx
a) y ln( x) = xe y b) y 2 ln( x + y )
=

• Problem 5 Find the derivative of the inverse function at the indicated point.

a) y
= ( x − 1)3 in y = 8 (= y (3) )

4q
b) p= (q > − 1) in p = 8/3 (= p (2) )
q +1

c) ( x)
f= 100 − x 2 ( 0 ≤ x ≤ 10 ) in y = 6 (= f (8) )

d) k q 3 + 3q
= in k = 14 (= k (2)

• Problem 6
Find the point(s) where the graph of the curve 4 x 2 + 4 xy + 8 y 2 =
7 has a horizontal tangent and the
point(s) where it has a vertical tangent.
 Problems Seminar 4 Mathematics 1 for Economics

• Problem 7
( ( )) in the point with x = e .
a) Find the equation of the tangent to the graph of f ( x) = ln ln x 2

=
b) Given is the function ( )
f ( x) log 2 x 2 + 1 . Find f ′( x) .
c) Given is the function f ( x=
) x ⋅ e 2 x . Find f ′(1) .

• Problem 8
− 8 x 2 + 24 x − 7 be defined on the interval ( −∞ , a ] (a is a real number).
Let f ( x) =
a) Find the greatest value of a that keeps the function a one-to-one function.
b) Find the formula for the inverse function f −1 for x ≤ 0 .
c) Find the domain and the range of the inverse function for x ≤ 0 .

Skills Questions

Question 1 =
Let ln(2) a=
, ln(3) b=
, ln(5) c and
= ln(7) d . Write log 7 ( 259 ) in terms of a, b, c and d.

Question 2 ln ( a ) .
Find a such that − ln(11) − 2 ln(10) =

Question 3 =
Let ln(2) a=
, ln(3) b and
= ln(5) c . Write 3ln ( 2250 ) in terms of a, b and c.

 ( x + 1) 2 ( x + 2) 
Question 4 Let ln(
= x) a , ln( x +
= 1) b and ln( x +=
2) c . Write ln   in terms of a, b and c.
 x 
Question 5 Write the following expression in the form a ⋅ u n v m wk : ( u ) ( w ) ( −2u v w )
2 2 3 3 2 3 2 5
.
Question 6 Find the solution x (if it exists) of the equation e −4 x + 2 e −2 x −3 = e10 .
1
Question 7 Find the solution x (if it exists) of the equation = e7 .
(e )
3− 3 x 5

Question 8 Determine all solutions x of the inequality 7 −4+9 x < 1

49 .
Determine all solutions x of the inequality 5−2+3 x > ( 251 )
−8 x +8
Question 9 .
3 −2 −1
x4 y 5 z 4
Question 10 Write the following expression with positive simplified exponents: 1 −1
.
2
x y z
6 2
 Problems Seminar 5 Mathematics 1 for Economics

• Problem 1
Find the stationary points of the following functions and classify these points (maximum or minimum).
1
− (2 x −1)2
a) f ( x) x ln( x) − x
= b) g ( x) = e 2

4e 3 x
c) x) ( x 2 + 1)e − x
h(= d) k ( x) =
xe x −1
• Problem 2
Find possible extreme values and classify the extreme points (maximum or minimum):
g ( x ) = x 3 ln x f ( x=
) e3 x − 6e x h ( x ) = ( 2 x + 1) ⋅ e3− 2 x
2
a) b) c)

• Problem 3 4 x 2 + 2 ln(2 x), with x > 0.

Given is the function f ( x) =
a) Find f ′( x) .
b) Find the equation of the tangent to the graph of f in the point with x = 12 .
c) Find f ′′( x) .
d) Find on which intervals the graph of f is convex resp. concave.
e) Calculate lim f ( x) and lim f ( x) .
x →0 + x →∞

f) Find the domain of the inverse function x = f −1 ( y ) .

g) Compute the derivative ( f −1 )′ (1) of f −1 for y = 1.

• Problem 4
Find the coordinates of the point(s) at which the tangent to the curve given by 3 x 3 + 2 y − y 2 x =0 is
horizontal and the point(s) at which this tangent is vertical.

• Problem 5 Given is the function y =f ( x) =−

1 3− x .
a) Find the domain and the range of f .

b) Find the derivative for x = 2 , so find f ′(2) .

c) Find the formula and the domain and the range of the inverse function x = f −1 ( y ) .

d) Find the derivative of the inverse function for x = 2 .

2
+2 x
• Problem 6 =
Given is the function y ( x) e x
f= with domain: x ≥ 0 .

a) Find the derivative f ′( x) and show that the function is increasing everywhere on its domain.
b) Find the range of the function.
−1
c) Find the formula for the inverse function f ( y ) written as a function of y.

d) Find the domain and the range of the inverse function f −1 ( y ) .

1
• Problem 7 Given is the function f ( x) = with domain: all real x .
x2 + 1
a) Find the first derivative f ′( x) .
b) Find the range of the function.
 Problems Seminar 5 Mathematics 1 for Economics

c) Find the second derivative f ′′( x) and find the interval(s) on which the graph of the function f is concave.

d) Find the quadratic approximation of f for x = 0 .

• Problem 8
) x 2 ⋅ ln( x) has an inflection point.
Find for which value(s) of x the graph of the function f ( x=

• Problem 9
Find all extreme values of the function f ( x) = 2
3 x3 − 4 x 2 − 5 on the interval [ −2,10] and
determine the character (maximum/minimum, local/global).

• Problem 10
Find all extreme values of the function f ( x=
) ( x + 1) e x+4
on the natural domain and
determine the character (maximum/minimum, local/global). Give also the range of the function.

Skills Questions

Question 1 Find all solutions x (if they exist) of the equation log x (10 x − 24 ) =
2.

Question 2 Determine all solutions x of the inequality ln ( 7 x − 4 ) < 4 .

Question 3 Determine all solutions x of the inequality e −3 x +1 > 6 .

Question 4 Find all solutions x (if they exist) of the equation 7 log7 (8 x ) + log7 ( 9 ) = 10 .
Question 5 Find all solutions x (if they exist) of the equation 54log5 ( 2 x ) = 4 .
Question 6 Determine all solutions x of the inequality log 2 ( −9 x + 6 ) − log 2 (5) ≥ 4 .
Question 7 Determine all solutions x of the inequality log 3 ( 3 x − 7 ) ≤ 4 .

Question 8 Find all solutions x (if they exist) of the equation log 4 ( −2 x + 3=
) log 4 ( −4 x + 1) + 2 .
Question 9 Find all solutions x (if they exist) of the equation ln ( −5 x )= ln x 2 − 24 .( )
Question 10 Determine all solutions x of the inequality ln ( 3 x − 6 ) + ln(3) ≤ 2 ln( x) .
 Problems Seminar 6 Mathematics 1 for Economics

• Problem 1
q 200 ⋅ e − 0.3 p
The relation between price p and the quantity demanded q of a certain commodity is given by: =

a) Find the marginal demand q′( p ) for p = 5 . Round your answer on two decimals.

b) Find the price elasticity of demand for p = 5 .

c) Give an approximation of the percentage change in demand when the price increases with 0.10
from p = 5 (use the answer of b)).

d) Find for which prices the elasticity is smaller than −1 .

• Problem 2
The relation between price p and the quantity demanded q of a good is given by: q= 10 ⋅ e − 0.2 p

a) Find the price elasticity of demand for p = 4 .

b) Give an approximation of the percentage change in quantity demanded when the price
increases with 0.12 from p = 4 (use the answer of a)).

c) Write the price elasticity of demand as a function of p for arbitrary values of p > 0 .
d) Find for which prices the demand is elastic.

• Problem 3
q 100 ⋅ e1− p
The relation between price p and quantity demanded q of a good is given by: =
For which value of p price-elasticity of demand equals − 2?

• Problem 4
The relation between price p and quantity demanded q of a good is given by: =
p 400 − 2q
c 2000
The average cost c = is given by: c =+q 160 +
q q
a) Find the value of q that maximizes profit.
b) Find the price-elasticity of demand for this value.

• Problem 5 Find the differential of each of the following functions in the indicated point.
3
a) ( −20q + 1200 ) q
r= in q = 10 b) ( x) 5 x
f= 5 +5 in x = 2
−1
c) y 9 x3 + 5 x
= 4 in x = 16 d) p =2 ⋅ 3q + 4 (q ≥ 0)

• Problem 6 Let y = x ln x .
a) Variable x increases from 2 to 2.5. Find an approximation of the change in y.
Compare the result with the real change in y.
b) Give the linear approximation of y for x = 2.
c) Give the quadratic approximation of y for x = 2.

• Problem 7
f ( x)
Show that the function= axb ( x > 0) with a ≠ 0 has constant elasticity.
 Problems Seminar 6 Mathematics 1 for Economics

• Problem 8 Determine the values of x at which each of the functions determined by the
following formulas is discontinuous:
x2 + 6 x + 9 x−7
a) f ( x) = b) h( x ) =
x 2 + 2 x − 15 x3 − x

( x + 3)
2
x
c) p( x) = 2 d) g ( x) =
x +1 x 2 + 8 x + 15
• Problem 9 Evaluate the following limits:
1 1 1
a) lim− b) lim+ c) lim
x→4 x − 4 x→4 x−4 x→4 x−4
1 1 1
d) lim− e) lim+ f) lim
2 2
x →3
9− x x →3
9− x x →3
9 − x2

x 2 − 3x − 4 x+3 −2 x−2 −2
g) lim h) lim i) lim
x → 4+ x−4 x →1 x −1 x →6 x−6

−56t + 112
j) lim 3
t →2 t 2 + 3t − 10

• Problem 10
Draw the graph of the following function:
3 x, for 0 ≤ x ≤ 3

=y f ( x= )  x 2 , for 3 < x < 5

8 x + 4 + 1, for 5 < x ≤ 10
Is f ( x ) continuous for x = 3 and x = 5 ?
1
− x2
• Problem 11 The function f ( x) = e 2 is defined for all real x (important function in statistics).
.
a) Find the derivative f ′( x) and the stationary point(s). Classify the stationary point(s). (maximum/minimum)

b) Find the second derivative f ′′( x) and find the inflection points of the graph.

c) Find the interval on which the graph of f is concave.

d) Let g ( x) be the quadratic approximation of f in the point x = 0 . Find g ( x) .

e) Find the numerical values of f ( 12 ) and g ( 12 ) with a calculator. Round your answer on 3 decimals.

f) Find the numerical values of f ( 2 ) and g ( 2 ) with a calculator. Round your answer on 3 decimals.

What is your comment on these results?

• Problem 12
The equation ln ( x − y ) + 2 xy 2 =
4 defines a curve in the ( x, y ) -plane. In the neighbourhood of the
2

point ( x, y ) = ( 2, 1) we consider y as an implicit function of x, so y = y ( x) while x = x .

a) Find the derivative y′ in the point ( x, y ) = ( 2, 1) .
 Problems Seminar 6 Mathematics 1 for Economics

b) Give an approximation of the change of y if we let increase x with 0.03, outgoing from x = 2 .

c) Find the equation of the tangent at the graph of the curve in the point ( x, y ) = ( 2, 1) .

• Problem 13
In a neighbourhood of ( p, q ) = ( 2, 1) the relation between the price p and the quantity demanded q of
a certain commodity is given by the equation: p 2 + 3 pq + 2q 2 =
12 .
a) Find the marginal demand q′(2) for p = 2.
b) Find the differential dq for p = 2.
c) Give an approximation of the change in quantity demanded if the price increases with 0.02, outgoing
from p = 2.

• Problem 14
The relation between price p and the quantity demanded q of a certain commodity is given by:
100
= (q)
p p=
q
a) Find the marginal demand q′( p ) and the price elasticity of demand, so El p q , for p = 10 .

b) Give an approximation of the percentage change in demand when the price increases from p = 10 to
p = 10.20 (use the answer of b)).

• Problem 15

a) A firm borrows 1 million euro and is supposed to pay it off in 10 equal payments for both principal
payback and interest together (annuities) at the end of each year, with an interest rate of 8%
compounded yearly. Find the annual payment (annuity).
b) At the end of each year for 4 years you deposit $10,000 into an account earning interest at a rate of
6% per year. How much is the account at the end of the fourth year? And how much is the account at
the end of the twentieth year?
c) Compute the present value of a series of deposits of $1500 at the end of each year in perpetuity when
the interest rate is 8% per year.

Skills Questions

Q1 Find the derivative of f ( x) =

2(5 − x99 )
3
. Q2 Find the derivative of f ( x) = 9 ( x ).
5 3

5x4 + 9 x2 + x
Q3 Differentiate f (=
x) 3
x ( 2x + 7 x + 4) .
4 3
Q4 Differentiate f ( x) = .
2x
−x − 2  2 
Q5 Differentiate f ( x) = . Q6 Differentiate
= (
f ( x) 4  5 3x 2 − 7 x  . )
( 6 x − 6 )( 6 x 2 + 6 )
2
 
1
( ) (−x − x2 ) .
4 6
Q7 Differentiate =
f ( x) 62 x + . Q8 Differentiate f ( x) = −2 x 3 + 3 3

62 x
4
 −2 x 2 − 5 x 
( 6 x − 3) ln ( 5 x + 4 ) .
2
Q9 Differentiate f ( x) =  2  . Q10 Differentiate f ( x) =
 −3 x + x 
Problems Seminar 7 Mathematics 1 for Economics

Problem 1
Find the following integrals:
∫ ( x + 6 + e ) dx ∫ dt
x
a) f)
1
b) ∫ 7 y(5 y + 3) dy g) ∫ 2 x dx
8x 2
∫ x dx ∫ (5 + x5 )dx
x
c) h)
x −1 −4
d) ∫ x dx i) ∫ (3x) 3
dx

x4 − 5x2 + 2 x
∫ (0, 2 y ∫ 5 x 2 dx
4 −2
e) − 6 y + 1) dy j)

Problem 2
Find the following integrals:
(2 x − 1) ⋅ ( x + 3) e x + e2 x
a) ∫ 6
dx d) ∫ e x dx
x3 −1
∫ 10 ∫ x 2 dx
3x
b) dx e)
2
∫y ∫4
2 7x
c) ( y + )dy f) dx
3

Problem 3
Find the following integrals:
x
∫ (x ∫
2
a) + x) 6 (2 x + 1)dx g) dx
3 2
x +5
5 3e 2 x
b) ∫ (3x − 1) 3
dx h) ∫ e2 x + 1 dx
1
− x2 x+3
c) ∫ xe 2
dx i) ∫ x + 6 dx
2 x − 2 x −2
∫x
2
d) ∫ x 2 + 2 x −1 dx j) ex +3
dx

2x2 x2
e) ∫ 3 − 4 x3 dx k) ∫ 3
2x3 + 9
dx

 2 
∫  4 x + 1 − (4 x ∫ 2 x (7 − e
2
2
f) − 8 x5 )( x3 − x 6 ) −8  dx l) x /4
)dx


Problem 4
Find y subject to the given conditions:

a) y ' ' = −3 x 2 + 4 , y ' (1) = 2, y (1) = 3

b) y ' ' ' = 2 x , y ' ' (−1) = 3, y ' (3) = 10, y (0) = 13
Problems Seminar 7 Mathematics 1 for Economics

Problem 5
dS 5
A certain country’s marginal propensity to save is given by = , where S and I
dI ( I + 2) 2
represent total national savings and income, respectively, and are measured in billions of
dollars. I= C + S .
a) Find S as a function of I.
b) If total national consumption is $7,5 billion when total national income is $8 billion,
for what value(s) of I is total national savings equal to zero?

Problem 6
The sole producer of a product has determined that the marginal-revenue function is
dr
= 100 − 3q 2 .
dq
Determine the point elasticity of demand for the product when q = 5.

Problem 7
Suppose the marginal cost-function for a manufacturer’s product is given by
dc 100q 2 − 3998q + 60
= ,
dq q 2 − 40q + 1
where c is the total cost in dollars when q units are produced.
a) Determine the marginal cost when 40 units are produced.
b) If fixed costs are $10.000, find the total cost of producing 40 units.

Problem 8 Find the definite integrals:

2 2

∫ ( x − 1) dx ∫ (x + 3 x 2 − 7 ) dx
5
a) f)
0 −1
4 −2
1 
∫  x + x  dx ∫e
2x
b) g) dx
3 −3
0 4
c) ∫(x + x ) dx h) ∫
2
x dx
3 1
−1 3

∫ ( x + 3) ∫(x + 3 x3 ) dx
2 2
d) dx i)
−2 1
−1 1

∫e ∫x ⋅ 3 7 x3 + 1 dx
−0,1 x 2
e) dx j)
1 0

Problem 9 Find the definite integrals:

1 1
2x
∫ 2x ( x − 1) dx
3
∫0 8 − x 2 dx d) 2 3
a)
0
1
x3 1
b) ∫0 1 + x 4 dx e) ∫y
−1
y 2 + 3 dy
2
3
x +1 x 6 + 6 x 4 + x3 + 8 x 2 + x + 5
c) ∫2 x 2 + 2 x + 2 dx f) ∫0 x3 + 5 x + 1
dx
 Problems Seminar 7 Mathematics 1 for Economics

Problem 10

Find the (total) area of the region(s) enclosed by the graph of the given function, the x-as and
the lines x = a and x = b over the interval [a,b].
a) f ( x )= x − 1 in [0,2]
b) f ( x ) = x2 − x − 2 in [-2,2]
c) f ( x ) = x2 + 2x + 2 in [-2,1]
d) f ( x ) = 3x in [-3,-2]
e) f ( x) = 8 x in [-2,1]

Find the area enclosed by the x-axis and the graph of the functions:
f) f ( x ) = x2 + 4x − 5
g) f ( x ) =4 + 3 x − x 2

Problem 11 Find the area enclosed by the graphs of both functions:

a) f ( x) =x − 8 x + 15 and g ( x ) =
2
−2 x 2 + 16 x − 30 .
b) 2 y = 4 x − x 2 and 2 y = x − 4 .
1
c) 4 x + 4 y + 17 = 0 and y = .
x

• Problem 12
a) Suppose the marginal-cost function for a manufacturer’s product is given by
dc
= 0,004q 2 − 0,5q + 50
dq
If c is in euros, determine the cost involved to increase production from 90 units to
180 units.
dr 2000
b) A manufacturer’s marginal-revenue function is =
dq 300q
If r is in euros is, find the increase in manufacturer’s total revenue if production is
increased from 500 to 800 units.

• Problem 13
The function, f ( x) = 13 (1 − x) 2 , where 0 ≤ x ≤ 3 , is a probability density function.
Find each of the following probabilities:

5
a) P (1 ≤ x ≤ 2) b) P (1 ≤ x ≤ )
2
c) P ( x ≤ 1) d) P ( x ≥ 1)

• Problem 14
The function, f ( x) = 10
9 x2
, where 1 ≤ x ≤ 10 , is a probability density function.
Find P (1 < X < 4 ) and P (1 ≤ X ≤ 10 ) .
 Problems Seminar 7 Mathematics 1 for Economics

Skills Questions

Find the derivative of f ( x) = ln 

 −9 x + 4 
Question 1 .
 9x +1 
( ln(7 x − 5) )
2
Question 2 f ( x)
Find the derivative of = .
Question 3 Differentiate f (=
x) 2 − ln x .
Question 4 Differentiate f ( x) = e97 + 97 x + x 97 + ln(97) .
Question 5 Differentiate f ( x) = 7 2− 2 x .

(e − 9) .
8x 5
Question 6 ( x)
Differentiate f =
x
Question 7 Find the second order derivative of f ( x) = .
x +1
9
Question 8 Find the third order derivative of f ( x) = 3 .
7x
Question 9 Determine the solution u of the equation 12 u + 52 = 2
3 u + 3.
Determine all solutions a of the equation 25 ( −2a + 1) = 16 ( −3a + 3) .
2 2
Question 10
 Problems Seminar 8 Mathematics 1 for Economics
• Problem 1 Determine the improper integrals, if they exist. Indicate those that are divergent:
∞ 0
1
∫1 x5 dx ∫e
3x
a) f) dx
−∞
∞ ∞
2 1
b) ∫
1 x
dx g) ∫ 2 x + 1 dx
1
0 ∞
1 x
c) ∫ dx h) ∫ dx
1− x
(x + 9)
2 3
−∞ 4

∞ ∞
5
∫3 12 x 2 dx ∫ xe
1− x 2
d) i) dx
−∞

10 2
1 1
e) ∫
0
2
x − 6x + 9
dx j) ∫0 2− x
dx

• Problem 2 In a market model is given: p

Demand function:= f (=
q ) 450 − 152 q
=
Supply function: (q)
p g= 1
4 q2
p is the price of one unit (in €) and q is the number of units.

a) Draw the graphs of both functions in one figure. b) Find the equilibrium point.
c) Find the Consumer Surplus. d) Find the Producer Surplus.

• Problem 3
210
In a market model is given: =
Demand function: p (q)
f=
2q + 1
Supply function: p = g (q ) = 4 + q − q + 6
p is the price of one unit (in €) and q is the number of units.

a) Compute f (10) and g (10).

b) Find the equilibrium price p * and the equilibrium quantity q * .
c) Find the Producer Surplus. d) Find the Consumer Surplus.

• Problem 4
a) In a market model is given: q 400 − p 2
Demand function:=
q
p
Supply function: = +5
60
p is the price of one unit (in €) and q is the number of units
Calculate Consumer Surplus and Producer Surplus under market equilibrium.
b) In a market model is given: Demand function: p= 0.01q 2 − 1.1q + 30
=
Supply function: p 0.01q 2 + 8
p is the price of one unit (in €) and q is the number of units
Calculate Consumer Surplus and Producer Surplus under market equilibrium.

( q − 5)
2
c) In a market model is given: Demand function: p
=
Supply function: p = q 2 + q + 3
p is the price of one unit (in €) and q is the number of units
Calculate Consumer Surplus and Producer Surplus under market equilibrium.
 Problems Seminar 8 Mathematics 1 for Economics
• Problem 5
dP 40 000
The predicted rate of growth per year of the population of a city is given by = ,
dt ( t + 2 )2
where t is the number of years from now. In the long run (that is, as t → ∞ ), what is the expected change in
population from today’s level?
2
 x − 1
Problem 6 (September 8, 2011, problem 1a) Find: ∫  2x  dx .

x2
Problem 7 (March 27, 2012, problem 1a) Find: ∫ 1 + 2x dx +
Problem 8 (June 14, 2011, problem 1a) Find: ∫ 5x 5 − x 2 dx .

Problem 9 (June 14, 2011, problem 1d)

dc 2000
A manufacturer’s marginal-cost function is = .
dq 6q + 280
If c is in dollars, determine the cost involved to increase production from 20 to 66 units.

x2
Problem 10 (October 25, 2010, problem 1a) Find: ∫ 3x + 1 dx .
3x . 6
Problem 11 (July 9, 2010, problem 1a) Find: ∫ e x . 4x
2
dx .

1
Problem 12 (June 18, 2010, problem 1a) Find: ∫ 5 x(ln x)7
dx.

x2 + 3
Problem 13 (April 1, 2010, problem 1b) Find: ∫ x + 6 dx .
Problem 14 (June 15, 2009, problem 1a)

dc 1000
A manufacturer’s marginal-cost function is = .
dq 3q + 70
If c is in dollars, determine the cost involved to increase production from 10 to 33 units.

5x
Problem 15 (April 2, 2009, problem 1b) Find: ∫x 2
− 10 x + 25
dx .

Problem 16 5 ⋅ e −5 x , x > 0 , is a probability density function. Find P ( X > 1) .

The function, f ( x) =

Skills Questions

Question 1 ) ln ( 3 + 2 ln(−3 + 3 x) ) . Find the domain of this function and the

Given is the function f ( x=
domain of the inverse function.
Problems Seminar 8 Mathematics 1 for Economics
2 x 4 + 4 x3 + 2 x 2
Question 2 Determine, if possible, lim 5 .
x → 0 x + 7 x3 − 5 x 2

Question 3 Determine all solutions x of the inequality ( 15 x + 14 )( 32 x − 74 ) ≥ 0 .

Question 4 Determine all solutions x of the inequality e9 x − 8 ≤ 1 .
Question 5 Find all extreme values of the function f ( x) = 13 x 3 − 3 x 2 − 3 on the interval [ −1,10] and
determine the character (maximum/minimum, local/global).
Question 6 Find the domain and the range of the inverse function and an explicit formula for the
−8 x − 2
inverse function of the following function: k ( x) = .
−4 x + 7
Find the second order derivative of f ( x) = ln 
 6x +1 
Question 7 .
 9x − 7 

∫ x (x + 1) dx .
4
3 4
Question 8 Find the indefinite integral
x
Question 9 Find the indefinite integral ∫ 2
x +6
dx .

∫ ( 2 x − 7e ) dx .
−5 x
Question 10 Find the indefinite integral
 Problems Seminar 9 Mathematics 1 for Economics

• Problem 1

Given is a differentiable function f (x , y ) .

x  t  us 2

The variables x and y are functions of the variables s, t and u : 
y  t(u  s )

The (dependent) variable z is defined by: z  f (x (s, t, u ), y(s, t, u ))
z
a) Write as a formula with the partial derivatives of f and the variables s, t and u .
t
b) Now, let: f (x , y )  (x  3)  y
z
Calculate for s  2, t  1 and u  3 .
t

• Problem 2

Consider the following demand functions: q1 = 2500 + 6 p22 − 4 p1 p2

q2 = 4000 + 3 p12 − 3 p1 p2

a) Find the quantities q1 and q2 if p1 = 40 and p2 = 20.

b) Find the marginal demand functions of q1 and q2 with p1 = 40 and p2 = 20.
c) Give an approximation of the change in q1 and q2 if p1 increases from 40 to 40.50 and p2
decreases from 20 to 19.
d) Find the price elasticity’s of q1 and q2 with p1 = 40 and p2 = 20.
e) With what percentage will q1 and q2 change, by approximation, if p1 increases with 2% and p2
decreases with 1%?

• Problem 3
p p1
50 ⋅ 2 and q2 =
The demand functions of two consumer goods are given by: q1 = 1000 ⋅
p1 p2
a) Find the quantities q1 and q2 if p1 = 40 and p2 = 100.
b) Give an approximation of the change in q1 and q2 if p1 decreases from 40 to 38 and p2
decreases from 100 to 98.
c) With what percentage will q1 and q2 change, by approximation, if p1 increases with 5% and p2
increases with 2%, outgoing from p1 = 40 and p2 = 100?

• Problem 4
p2 p3
The demand function of a consumer product is given by: q1 =
p1
Find the sum of the price elasticity’s.

• Problem 5
Let w = xy + yz + z 2 .
a) Give an approximation of Δw if x increases from 5 to 6, y increases from 20 to 22 and z decreases
from 10 to 9.
b) By what percentage w changes approximately if x increases with 10 % from 5, y decreases with
5 % from 20 and z increases with 5% from 10 ?
 Problems Seminar 9 Mathematics 1 for Economics


 2

 f ( x )  e 4 x 4
• Problem 6 Given are the functions: 


 g ( x)  1  1 2 x  2 , with domain 1, 



 2

a) Show that the graphs of y = f (x ) and y = g(x ) intersect for x = 1 .

1 1
b) Find the exact value of ∫ g(x )dx .
0
c) Compute ∫ f (x )dx .
0
d) Find the area of the region enclosed by the x-axis, the y-axis, and the graphs of the functions f
and g.

• Problem 7 Given is the function f ( x,=

y) x + 2y .
a) Find the differential of f.
b) Give the linear approximation of f (x , y ) if (x,y) is close to (2,1).

• Problem 8

Let g ( x, y, z , u ) = 5 x 2 ⋅ ln y + 3uy ⋅ e z . Find the linear approximation of g in the point (1,1,0,2).

Skills Questions

 −2 
Question 1 Find the indefinite integral ∫  t − 4 xt + 2t  dt .
2

 −qx3 1 
Question 2 Find the indefinite integral ∫ 
 2L
+ 4 qLx  dx .

 2v 
Question 3 Find the indefinite integral ∫  4 + 2v 2  dv .

 4v 
Question 4 Find the indefinite integral ∫  3 + kv 2  dv ( k > 0) .

∫ ( 6cx − 10ce ) dx .
− cx
Question 5 Find the indefinite integral

 4k 
Question 6 Find the indefinite integral ∫  t
− 4ke − kt  dt .

q ( L2 − x 2 )
Question 7 Find the indefinite integral ∫ L
dx .

 4D ( 14 h 2 − y 2 ) 
Question 8 Find the indefinite integral ∫ 
 bh3
 dy .

 

∫ x (x + 9 ) dx .
4
10 11
Question 9 Find the indefinite integral
1

∫ (x − 10 x )( 4 x 4 + 5 ) dx .
5
Question 10 Find the definite integral
0
 Problems Seminar 10 Mathematics 1 for Economics
• Problem 1
The equation x 2  y  2z  ln(yz )  4 is defined in a neighborhood of the point (x , y, z )  (1, 2, 21 ) .
z is an implicit function of x and y .

a) Find both partial derivatives of z in the point (x , y, z )  (1, 2, 21 ) .

b) Give an estimation of the value of z if, outgoing from point (x , y, z )  (1, 2, 21 ) ,
x increases with 0.01 and y increases with 0.04.

x 
• Problem 2 Given is the function z  f (x , y )  x  y  ln  
  y 
a) Is f homogeneous, and if yes, what is the degree ?
b) Find the sum of both partial elasticity’s, so find Elx (z )  Ely (z ) .
c) Find both Elx (z ) and Ely (z ) for (x , y, z )  (1,1,1) .
d) From (x , y, z )  (1,1,1) x increases with 2% and y decreases with 1%. Approximate the relative
change of z with the elasticity’s found in c.
e) Now is given: x  x (t )  4t  3 and y  y(t )  2t  t 2
The function z is defined by: z (t )  f (x (t ), y(t ))
Find z '(1) .
 x 
 y 
• Problem 3 Let z  f (x , y )  xy  x  e .2  

a) Is f homogeneous, and if yes, from which degree ?

b) Find the sum of the elasticity’s, so find Elx (z )  Ely (z ) .
z z
c) Find and in (x , y, z )  (1,1,1  e) .
x y
d) Find Elx (z ) and Ely (z ) for (x , y, z )  (1,1,1  e) .
e) Determine if the function is elastic with respect to x and with respect to y.

• Problem 4
3
 2 1 
The production function of a consumer product is given by: q( K , L) =
10 ⋅  3
K+ L3

3 3 
Take L= 343 and K = 1000.

a) Find the production quantity.

b) The number of labor units increases with 10 and the number of capital units decreases with 20. Give
an approximation of the change in q(K,L). What is the exact change in q(K,L)?
c) Show that the production function is homogeneous of degree 1.
d) Find the elasticity’s with respect to labor and capital.
e) With what percentage production will change approximately if L increases with 3% and K decreases
with 2%?

• Problem 5 Let f ( x, y ) = ( x3 + y 3 ) ⋅ ln( x / y ) .

Show that the function is homogeneous.
Find f x′ (1,1) + f y′ (1,1) .

• Problem 6 Let f ( x,=

y) x a +b ⋅ ln( y b / x) .
For what values of a and b the function f is homogeneous of degree 3?
 Problems Seminar 10 Mathematics 1 for Economics

• Problem 7 Consider the utility function u ( x, y ) = x + y + 2 xy ( x > 0, y > 0)

a) Show that this function is homogeneous of degree 1.

b) Suppose that for ( x0 , y0 ) utility approximately increases with 3/4% if x increases with 1% , while y
stays the same.
Approximate by what percentage utility increases if y increases with 1 % while x stays the same.

• Problem 8 Given is the function f (x , y, z ) = ln(x + 2y ) + 3xz

a) Find the differential df for (x , y , z ) = (1, 0, 2) .

b) On the level-surface f (x , y, z ) = 6 we consider z as an implicit function of x and y, so z = z (x , y ) , in a
neighborhood of (x , y, z ) = (1, 0, 2) .
∂z ∂z
Find the partial derivatives and in the point (x , y, z ) = (1, 0, 2) .
∂x ∂y
• Problem 9
The differentiable function q(a,k) is homogeneous of degree 0.9.
For a = 20 and k = 40 holds: q = 100 and qa′ = 1.8 . Find the elasticity of capital.

• Problem 10 Find the equation of the tangent at the graph of the curve with equation:

a) x = y2 in (x,y) = (1,–1) and in (x,y) = (1,1)

b) x 3 + 4 xy − y 4 + 13 =0 in (x,y) = (3,–2)
c) 3
x= ( y − x 2 )2 in (x,y) = (1,2)
d) ye x + ln( x + y ) =1 in (x,y) = (0,1)
e) ( x + 2 y )2 =
225 in (x,y) = (25,50)

• Problem 11 Find:

a) y'(1) if ln( xy ) + y =1
b) p'(1) if ( p + 2)(q + 1) =
8
c) r'(0) if e rs= r + s

• Problem 12 Find for each of the following surfaces the tangent-plane in the indicated point.

a) x 2 + 2 y 2 + 3z 2 =
6 in (x,y,z) = (1,1,1)
3 2
b) x + xz = y + 1 in (x,y,z) = (2,3,1)

• Problem 13 Find for each of the following surfaces the tangent-plane in the indicated point.

a) x 2 y 2 z 2 = 36 in (x,y,z) = (1,2,3)
b) ln x + ln y − ln z =
ey in (x,y,z) = (ee,1,1)
Problems Seminar 10 Mathematics 1 for Economics

Skills Questions

L
Question 1 Find the definite integral ∫ ( P ( x − L) −
0
1
5
1
5 Px ) dx .

3
e5 x − 5
Question 2 Find the definite integral ∫
0
ex
dx .

∫ ( 5x − 5)
2
Question 3 Find the definite integral dx .
0
3
x2 + 4
Question 4 Find the definite integral ∫
1
x3 + 12 x
dx .

∫ ( 3 ( 3 + 2x ) )
4
2 2
Question 5 Find the definite integral x dx .
2

( 25 (1 + e ) e ) dx .
2ln(2)
x 4
∫
x
Question 6 Find the definite integral
ln(3)
e5
 18ln( x) 
Question 7 Find the definite integral ∫
e

 x 
 dx .

e4  8 ( ln( x) )3 
Question 8 Find the definite integral ∫ 
 x
 dx .

e  
3
Question 9 Find the definite integral ∫ ( 9 x ) dx .
0
2
 1
Question 10 Find the definite integral ∫
1
 5x + 5  dx .
 x 
 Problems Seminar 11 Mathematics 1 for Economics
• Problem 1 Given is the function: f ( x, y ) = 4 x3 + 4( x − y )3 − 60 x + 12 y

a) Find all stationary points of f and the corresponding function values.

b) Determine the character of the stationary points (maximum, minimum, saddle point).

• Problem 2

A producer produces two goods. The simultaneous cost function of both goods is:

q12 + 2q1q2 + 3q22

c(q1 , q2 ) = , qi is the quantity produced in factory i (i = 1, 2)

The demand functions are given by: p=

1 46 − 3q1 and p=
2 58 − 5q2 .

a) Give a formula for the profit expressed as a function of q1 and q 2 (so π = π(q1, q2)).
b) Find values for q1 and q 2 that maximize profit. Show that it is indeed a maximum.

• Problem 3 Given is the function: f ( x, y ) = x 2 ) ( y-1) 2 - x( y -1) ) x 3 .

a) Find all stationary points of f and the corresponding function values.
b) Determine the character of the stationary points (maximum, minimum, saddle point).

• Problem 4 Let f (x , y ) = (x 2 - y 2 , 3) × e y .
a) Find all stationary points of f .
b) Determine the character of the stationary points (maximum, minimum, saddle point).

• Problem 5
A producer makes the same product in two different factories. The cost functions are:

c1 (q1 ) = q12 ++
20q1 100
c2 (q 2 ) = 21 q 22 ++
30q 2 50 qi is the quantity produced in factory i and ci the corresponding cost (i = 1, 2)

The price p follows from the total production q1 + q 2 by the formula: p = 96 - (q1 + q 2 )
a) Show that profit p can be expressed as a function of q1 and q 2 by:
q(q1, q 2 ) = -2q12 - 2q1q 2 - 23 q 22 ,,
76q1 66q 2 - 150
b) Find values for q1 and q 2 that maximize profit. Show that it is indeed a maximum point.

• Problem 6
A company is manufacturing a product using two different production locations.
The cost function of the first location is given by: c1 (q1 ) =q13 + 20q1 + 725
The cost function of the second location is given by: c2 (q2 ) =10q22 + 100q2 + 200
qi can be defined as the production level in location i. The selling price for the whole production is 320 .

a) Express the profit of the company as a function W of q1 and q2 : W(q1,q2).

b) Find the two elasticities of W(q1,q2) for q1 = 5 and q2 = 15.
c) Given the answers of b., with what percentage profit will change, by approximation, if q1 increases with 2%
and q2 decreases with 1%?
d) Find the maximum profit and show that it is a maximum indeed.

• Problem 7
The cost function of a company that produces two consumer goods is given by: q12 + 2q1q2 + 3q22
c(q1 , q2 ) =
Problems Seminar 11 Mathematics 1 for Economics
The demand functions for these two goods are given by: p=
1 36 − 3q1 and p=
2 40 − 5q2
a) Express the profit of the company as a function W(q1,q2) .
b) Find for which quantities profit is maximized and show that it is a maximum indeed.

• Problem 8
The demand function for a certain product is given by: q(p)= 100 1 − 12 p + ( 1
16 )
p 2 with 0 ≤ p ≤ 4

a) Write the price elasticity of demand as a function of p and give an approximation of the percentage change in
demand if p is increased from p = 2 to p = 2.04
b) For which values of p is the demand inelastic?
3
 1 1

L, K )  0.3L3 . 0.7K 3 
Now is given the CES (Constant Elasticity of Substitution) function: q(=
 
 
c) Show that q(L, K ) is homogeneous and find the degree of homogeneity.
d) ( )
Find for (L) K ) = 27) 125 the elasticity of labor and the elasticity of capital.

• Problem 9 Given is the function: f ( x, y ) = 13 x 3 - x 2 y - 6 y 2 ) 16 y

a) Find all stationary points of f and the corresponding function values.
b) Determine the character of the stationary points (maximum, minimum, saddle point).

Skills Questions

 6 1 
Question 1 Find the indefinite integral ∫  x 3
+  dx .
4 x2 
∫ ( 3ax + 2a 2 x3 ) dx .
2
Question 2 Find the indefinite integral
2
 5v 
Question 3 Find the definite integral ∫
1
 2  dv .
 3v + 4 
Question 4 For a market model the demand function pd (q ) = 2q 2 - 60q ) 392 and the supply function
ps (q ) = 2q 2 ) 4q ) 8 are given, where p is the price and q is the quantity. Calculate the
Producer Surplus and the Consumer Surplus in the market equilibrium.
18
Question 5 For a market model the demand function qd ( p ) = - 5 and the supply function
p
qs ( p ) = p - 2 are given, where p is the price and q is the quantity. Calculate the Producer
Surplus and the Consumer Surplus in the market equilibrium.
10
Question 6 Given is the function f ( x, y ) = 9 x 5 y 4 ) . Find f x¢( x, y ) .
x2 y9
5
Question 7 Given is the function f ( x, y ) =10 x 9 y 9 ) 10 10 . Find f xy¢¢ ( x, y ) .
x y
2
Question 8 Given is the function f ( x, y ) = x 3 y10 ) 6 9 . Find f yy¢¢ ( x, y ) .
x y
x3 y 3
Question 9 Given is the function f ( x, y ) = . Find f y¢( x, y ) .
3x 4 y 4 ) 4
8
æ 5 ö
Question 10 Given is the function f ( x, y ) = çç4 x 5 y 2 ) 4 2 ÷÷÷ . Find f y¢( x, y ) .
çè x y ø÷
 Problems Seminar 12 Mathematics 1 for Economics
• Problem 1 An utility function is given by: U (q1 ,=
q2 ) 60q1 ⋅ 3 q2

a) The prices per unit of the goods 1 and 2 are 60 and 10 respectively.
Find which quantities q1 and q2 maximize utility with a budget of 8000.
Show that it is indeed a maximum.
b) Suppose that the budget increases to 8200. Give an approximation of the change of the maximum utility by
using the Lagrange multiplier.

• Problem 2 Given is the production function F (K , L)  2 ln K  8 ln L with domain: K  1 and L  1 .

K is the amount of capital and L the amount of labor.

a) Find the linear approximation of F (K , L) about (K , L)  (150, 200) .

b) Price of capital is 1 and price of labor is 3 and there is a budget of 1080. Find values of K and L that
maximize production under this condition. Show that it is indeed a maximum point.
c) Approximate the increase of the maximum production if budget increases with 2.
Round your answer to 4 decimals.

• Problem 3 Given the production function: q(K , L)  K 0.5  L0.5 . ( K is capital, L is labor)

a) Find the linear approximation of q(K , L) for (K , L)  (100, 400) .

b) Price of capital is 2 and price of labor is 1.
Find which values of K and L maximize production, if there is a budget of 600.
Show that it is indeed a maximum.
c) Approximate the increase of the maximum production if budget increases with 4. Round your answer to two
decimals.

• Problem 4 Given is the production function: q ( K ,=

L) K ⋅L

a) =
Find the differential dq for K 100 = and L 400 .
b) Capital K increases from 100 to 104 and labor L decreases from 400 to 390. Give a linear approximation of the
change in q.
c) The price of one unit of capital is 2 and the price of one unit of labor is 3.
Find which values of K and L maximize production, if there is a budget of 1200.
Show that it is indeed a maximum.

• Problem 5 An utility function is given by: U (q1 , q2 ) = 4 ln(q1 q2 )

a) =
Find the differential dU of this utility function for q1 8=
and q2 2 .
b) Approximate by using the differential dU the change in utility if q1 increases with 0.2 and q2 increases with
0.3, outgoing =from q1 8= and q2 2 .
c) The prices of the goods 1 and 2 are respectively 10 and 15.
Find which quantities q1 and q2 maximize utility with a budget of 4500.
Show that it is indeed a maximum.
d) Approximate the change of the maximum utility if budget increases from 4500 to 4503.

• Problem 6 Given is the profit function (q1 , q2 )  40q1 q2  20 000 ,

with q1 and q2 the produced quantities of good 1 respectively good 2 per year.

The production costs of these goods are respectively 30 and 5 per unit.
The producer must make a profit of €340 000. Find, by using the method of Lagrange, for which quantities q1 and q2
the production costs are minimized given a profit of €340 000.
Problems Seminar 12 Mathematics 1 for Economics

• Problem 7

A producer uses two raw materials, paper and wood-pulp, to make wallpaper.
The quantities of paper and wood-pulp (in units of 100 kg) are denoted by P and W .
The revenue function (in €1.000) is a function of the quantities of paper and wood-pulp that are used:
4 ⋅ P3 ⋅W
r ( P, W ) =
The producer wants to maximize the revenue.
There is a financial constraint with respect to the raw materials: 2 P + 5W =
20 (in €1.000).

a) Find, by using the method of Lagrange, for which quantities of paper and wood-pulp the revenue is
maximized. Find the maximum revenue and show that it is indeed a maximum.
b) Suppose that the budget increases with 10%. Give an approximation of the change of the maximum revenue
by using the Lagrange multiplier.

• Problem 8 A production function is given by: q ( K , L) = ln( K 2 L) with K 2 L > 1 .

L is the quantity of labor and K is the quantity of capital.

a) For which values for K and L profit is maximized given that the price per unit
= is pK 5=
and p L 3 and the
maximum budget is 405.
b) Suppose the budget increases to 411. Give an approximation of the increase in the production by using the
Lagrange multiplier.

• Problem 9
KL
a) Optimize q = (K>0, L>0) subject to: 4K + L =B ( B is the budget)
K+L
b) Suppose that the budget increases with one unit. How much will q increase by approximation ?

5
• Problem 10 Consider the following utility function: U (q1 , q2 ) = 45q1 − q12 + 34q2 − 2q22
2
subject to: 5q1 + 2q2 = 32

a) For which q1 and q2 the utility function has a maximum subject to the given budget restriction?
b) Suppose that the budget increases to 34, give an approximation of the maximum of the utility function.

• Problem 11 For two goods the utility function is given by: U (q1 , q2 ) = ln(q1 q2 )

a) Find the differential dU of U in (q1,q2) = (10,5).

b) How much will utility change if both q1 and q2 increase with 0.1? Use the differential dU.
c) For which quantities utility is maximized given that p1 = 2, p2 = 3 and the budget is 90?

40 KL
• Problem 12 An production function is given by: q =
5K + 2 L

a) Show that this function is homogeneous.

b) Find the labor elasticity and the capital elasticity in point (K,L) = (30,50).
c) What is the percentage change of the production if L decreases with 1% and K increases with 4%, given (K,L)
= (30,50)?
d) The price of labor is 10 and the price of capital is 9. The producer has to supply 225 units. Find for which
quantities (values for K and L) cost is minimized and show that those values yield a minimum indeed.
Problems Seminar 12 Mathematics 1 for Economics

• Problem 13 f ( x, y ) ln 2 2 x + 3 y
Given is the function:= ( )
Find the total differential df in the point (x, y) = (2, 8).

• Problem 14 An production function is given by: q ( L, K ) = e L K

L is the quantity of labor and K is the quantity of capital.
The price of one unit of capital is 4 and the price of one unit of labor is 2.
The total budget is 12.

a) Find, by using the method of Lagrange, for which quantities of labor and capital the production is maximized.
Find the maximum production and show that it is indeed a maximum.
b) Find the Lagrange multiplier λ.

Skills Questions

6 6
y 6
Question 1 Given is the function f ( x, y )  4e x . Find f y( x, y ) .
9
y 7
Question 2 Given is the function f ( x, y )  9e x . Find f yx ( x, y ) .
3 8
y 9
Question 3 Given is the function f ( x, y )  5e x . Find f xx( x, y ) .
Question 4 Given is the function f ( x, y )  ln 10 x 6 y 3  3 . Find f x( x, y ) .

Question 5 Given is the function f ( x, y )  ln 4 x 6 y 9  8 . Find f yy ( x, y ) .

2 2 2
Question 6 Find, by the method of Lagrange, the critical points of the function f ( x, y, z )  x  y  z
subject to the constraint 8 x  10 y  6 z  200 .
2 2
Question 7 Find, by the method of Lagrange, the critical points of the function f ( x, y )  x  8 y  3
subject to the constraint 4 x  16 y  20 .
0.6 0.4
Question 8 The Cobb-Douglas production function of a certain product is given by q ( K , L)  80 L K ,
where L is the number of labour units and K is the number of units of capital needed to produce q
units. Every unit of labour costs 40 euros and every unit of capital costs 120 euros. If the budget for
the production is 600,000 euros, how should this budget be distributed over labour and capital in order
to maximize the production?
Question 9 To complete an incoming order of 100 units of its product, the manager wants to divide the
production between its factories 1 and 2. The total cost function is given by:
c(q1 , q2 )  0.1q12  9q1 13q2 1000 , where q1 and q2 are the number of units that are produced
in factory 1 and factory 2 respectively. How should the production be distributed to minimize the
costs?
Question 10 Give the equation for the line parallel to the line 4 x  7 y 15  0 and that passes through the point
6,9 .
 Short answers seminar questions Mathematics 1 for Economics

Answers Seminar 1 Mathematics 1 for Economics

• Problem 1
a) Domain: x ≠ 0 , Range: y > 0

b) f (3=
) 1
, f (−1=
) 1, f (x + h=
)
1
) x 2,
, f ( x1=
1
= x 2, =
(
f (x + h ) − f (x ) − 2x + h )
( )
9 2 2
(x + h ) f (x ) h x2 x + h
−1
c) f −1(y ) = with domain: y > 0 and range: x < 0 .
y

• Problem 2
t 2 + 12t − 9 2
a) (F=
 G )(t ) F=
G t( ( )) F (t )
 F )(t ) G=
; (G= ( )
(t − 1)
2 2
t + 7t

b) ( f  f )(x ) =f ( f (x ) ) =x 4
+ 4x 3 + 4x 2 − 2

• Problem 3
a) x ≥ 4 ∨ x ≤ −1
b) x < −2 ∨ x > 2
c) x ≤ −2 ∨ x ≥ 9
d) x=3
3 − 33 3 + 33
e) ≤x≤
2 2
f) x ≠ −4

• Problem 4
9
a) The equation has no solutions when D < 0, so p > .
5
9
The equation has 1 solution when p = 0 or p = .
5
9
The equation has 2 solutions when D > 0, so p < (and p ≠ 0 ).
5
b) The equation has 1 solution when q = ±2 5 .
The equation has no solutions when −2 5 < q < 2 5 .
The equation has 2 solutions when q < −2 5 or q > 2 5 .
c) The equation has 1 solution when r = 9 .
The equation has no solutions when r > 9 .
The equation has 2 solutions when r < 9 .
d) The equation has no solutions when a ≥ 0. The equation has 2 solutions when a < 0 .

• Problem 5

a) t 5
2

b) x ≤ − 1 or 3 − 6 ≤ x ≤ 3 + 6
 Short answers seminar questions Mathematics 1 for Economics

a 4 − 16
c) = a 3 − 2a 2 + 4a − 8 ( a ≠ − 2)
a+2
d) x ≤ −718 or x ≥ 158

• Problem 6

a) −3
2 ≤x≤ 1
2 or x > 1

b) 1
4 − 14 5 < x < 0 or x > 14 + 14 5

Skills Questions

Question 1 35
57
Question 2 −8192 ⋅ u 32 v16 w2 .

x12
Question 3 35 13
Question 4 −3 ( v − 5 )( v + 15 )
y 8 z 28
(w 4
+ 3)
Question 5 (w 4
≠ 4) Question 6 z=
−7
− 13 17 or z =
−7
+ 13 17 .
(w 4
+ 5)
3 3

Question 7 x 6 − 3 x3 − 10 = (x 3
+ 2 )( x3 − 5 ) ; x 6 − 3 x3 − 10 =0⇔ x=− 3 2 or x =3 5

Question 8 y − 4 y − 140 = ( y + 10 )( )
y − 14 ; y − 4 y − 140 = 0 ⇔ y =196

1 5  1  1  1 5
Question 9 + − 36
=  + 9  − 4 ; + − 36 = 0 ⇔ x = −937 or x = −415
( x + 4)
2
( x + 4) 2
x+4 x+4  x + 4  x+4

8 − 8 5 or x =
x= 8 + 8 5
Question 10 −1 1 −1 1

Answers Seminar 2 Mathematics 1 for Economics

• Problem 1
ln(25)
a) x ≤ −2 b) x> ≈ 33.77
ln (1.1)
− ln ( 0.66 ) log10.1
c) x< ≈ 8.52 d) x< ≈ 17.65. e) x > 103
ln (1.05 ) log1.14

• Problem 2
a) x = − log(3) ≈ −0.477

b) x = 94

7 + 1129
c) =x ≈ 1.353
30
 Short answers seminar questions Mathematics 1 for Economics

 3 + 13 
d) ln(3) < x < ln  
 2 
e) 3e < x < e3 − 3e
f) 0 < x < e −3 or x > 1

• Problem 3
a) x>9
b) This is true for all x ∈  .
ln 6
c) x ≥ 1 − log 3 6 = 1 − ≈ −0.63
ln 3
d) 0 < x <1
8
e) 2< x<
3
f) x ≤ 12
1
g) x > e2 .
2
1
h) 0< x< .
8
i) x > 1.
j) x>2

• Problem 4
1
(Remark: x > 2 ) 3ln ( x ) + ln ( x − 2 ) − 7 ln ( x − 1)
2

• Problem 5
−2 y − 1
a)
= x = f −1 ( y ) ;= D f R f −1 : x ≠ −2 ;= R f D f −1 : y ≠ 2
y−2
b) x = 3 − (1 − y ) 2 = f −1 ( y ) ; D f = R f −1 : x ≤ 3) ; R f = D f −1 : y ≤ 1

• Problem 6
a) 2 x = e x ln 2
2 2
b) 5x = e x ln(5) .
c) e x ln(48)
16 x ⋅ 3x =
d) 4 x ⋅ 33 x =
e x ln(108)
ln ( x )
e) log10 ( x ) = .
ln (10 )

ln ( 2 )
f) log 3 (1) + log 3 ( 4 ) + log 3 ( 7 ) − log 3 (14 ) = log 3 ( 2 ) = .
ln ( 3)
 Short answers seminar questions Mathematics 1 for Economics

log(4)
g) = ln(4) .
log(e)
h) ln(ee ) = e

• Problem 7
a) x > 23
b) 2e = ee ln 2

• Problem 8
a) x < − 1 or x > 1
b) a= 1
4
; f −1(y ) =−
x = 1
4
1
4
y −3

c) p  f 1(q )  50  25  log q
d) p  75

• Problem 9
−4
a) D f : x > 12 + 14 e 3 ; D f −1 = R f = ( −∞ , ∞ ) = .
b) x ≥ 43 .
4y + 3
c) D f −1 =Rf : y ≠ 2
3
; R f −1 =Df : x ≠ 4
3
; x =f −1 ( y ) =
3y − 2

Skills Questions
Question 1 x ≤ 66 .
Question 2
a) The function has a maximum −4 for x = 1 .
b) Intersection point y -axis: ( 0, − 5 ) ; No intersection points with the x-axis
c) R f : y ≤ − 4
Question 3 x=4
Question 4 x = −5
Question 5 x = 119
21 16 11
Question 6 f ′( x) = 52 x 5 − 84 x 5 + 165 x 5 .

Question 7 x) 3 x5 + 15 x 2 .
f ′(=

(
20 7 x 6 − 3 x3 ).
Question 8 ( 7
f ′( x) = 5 4 x − 3 x ) ( 28x
4 −2 6
− 12 x 3
)=
( 4x 7
− 3x )
4 2

 x=2
x = − 5 
Question 9  Question 10 y = −3
 y=7 z = − 4

 Short answers seminar questions Mathematics 1 for Economics

Answers Seminar 3 Mathematics 1 for Economics

• Problem 1
a) f=′( x) 12 x 2 + 7.
10
b) f ′( x=) 3 + 24.
x
c) f ′( x) = 4 x3 − 3 x 2 − 7.
−26
d) f ′( x) = .
( 7 x − 2)
2

3x + 1
e) f ′( x) = .
3x 2 + 2 x − 1
f) 2 ( 7 x − 2 )( 42 x − 11)
f ′( x) =
= .
x
g) y′ = .
2
x +4
4 ( 4 x − 2 ) ( 6 x 2 + 3 x + 28 )
3

h) y′ =
( 3x + 7)
2 2

i) y′ =
− 588 x 2 − 112 x − 1

• Problem 2
( a + h) 2 − a 2
a) f ′(=
a ) lim = lim ( 2a += h ) 2a
h →0 h h →0

(3 + h) 2 + 3(3 + h) + 4 − 22
b) f ′(3)
= lim( =) lim ( h + 9= ) 9
h →0 h h →0

1 1
− 2
( x + h) 2
x −2 x − h −2 x + 0 −2
c) = f ′( x) lim = lim 4 3
= 2 2
=
h →0 h h →0 ( x + 2 x h + x h ) x + 0 + 0 x3
4

( x + h) ( x + h) − x x 3 x 2 + 3 xh + h 2 3
d)
= f ′( x) lim = lim = x
h 2
3 3
h →0 h →0
( x + h) 2 + x 2
1 1
−
2( x + h) 2 x −1 −1
e) f ′( x) lim = lim
= =
h →0 h h → 0 2 x ( x + h) 2 x 2

• Problem 3

5 5
a) f ′(t ) = 15t 2 b) f ′( x) =
− x −6 = − 6
4 4x
7 7 1 −3 1
c) f ′( x) =
− x −2 =
− 2 d) f ′( x) =
− x 2= −
9 9x 4 4x x
2
e) f ′( x) = 63 x 6 f) f ′(q ) =3 + 2q −2 =
3+ 2
q
 Short answers seminar questions Mathematics 1 for Economics

35 3 1 − 1 35 x 2 + 1
g) f ′( x) = x 2 + x 2 =
12 12 12 x

• Problem 4

a) y 2x + 4
= b) y 4x + 2
=
3 11
c) y=
− 258 x + 112 d) y
= x−
5 5
3 1 8 17
e) y= − x+ f) y=− x+
16 2 5 5
g) y + 35 =x − 2 , or y= x − 37

• Problem 5
y − 12= 1
27 ( x + 2) or y= 1
27 x + 54
31

• Problem 6
−2 x5 + 7 x3 + 3 x −3
a) lim =
x →0 3x5 + 9 x3 − 5 x 5
−2 x5 + 7 x3 + 3 x −2
b) lim = .
x → −∞ 3x5 + 9 x3 − 5 x 3
2+ x −2 1
c) lim =
x→2 x−2 4
4 − 2 4 + x −1
d) lim = .
x →0 x 2
4−2 4+ x
e) lim =0.
x →∞ x

• Problem 7
a) 1
3 − 13 e3 < x < 13
b) =x = 96 4 6
c) x = 17
29

Skills Questions

Question 1 0 < x ≤ 2 or x ≥ 4 Question 2 3≤ x <6

Question 3 0 < x ≤ 27 =3 3 Question 4 0 < x <1
6
Question 5 =x 1
5 or x
= 7
5
Question 6 x 2=
= 64
Question 7 x > 65 + 15 log 5 (4) Question 8 x > 3 − ln( 76 )
Question 9 x≥ −7
4
Question 10 x ≤ 22
15
 Short answers seminar questions Mathematics 1 for Economics

Answers Seminar 4 Mathematics 1 for Economics

• Problem 1
1+ x
2 −1
a) y ' e1− x ⋅
= b) y' =
(1 − x ) x ( ln x )
2 2

dz 1  1 
c) y ' = 2 x, with x > 0 d) = ⋅ 1 + 
dy ( 
y+ y  2 y ) 
1− x
e) y '= f) y ' = 3x ⋅ x 2 ⋅ ( 3 + x ln 3)
ex
y ' =2 ( x + 2 )( x + 3) e 2 x y ' = 2 x (1 + x )(1 − x ) e − x
2
g) h)
3 1 2w + 1
i) y=' + j) f ' ( w) = .
x 4x + 2 ln10 ⋅ ( w2 + w )

• Problem 2

y 5 x − 20
=

• Problem 3
3 13
a) y= − x+
5 5
b) y = −x
c) y= − 4x − 3
d) y = x for all x
e) The tangent in the point (2, 0) is vertical: x = 2

• Problem 4
y
ey −
dy x xe y − y
a)= =
dx ln( x) − xe y x ln( x) − x 2 e y
dy 1
b) =
dx 2 xy + 2 y 2 − 1

• Problem 5
1 1
a) =
x '(8) =
y '(3) 12
8 1 9
b) q='( ) =
3 p '(2) 4
1 3
c) ( f −1 ) '(6) = = −
f '(8) 4
1 1
d) q =
'(14) =
k '(2) 15
 Short answers seminar questions Mathematics 1 for Economics

• Problem 6
A horizontal tangent in ( −21 ,1) and ( 12 , − 1) . (
A vertical tangent in − 2 , 14 2 and ) ( )
2 , −41 2 .
• Problem 7
1 1
a) y − ln 2= ( x − e ) ⇔ y= x − 1 + ln 2
e e
2x
b) f '( x) = 2
( x + 1) ln 2
1 3
c) f ' (1) = ⋅e + e = ⋅e
2 2

• Problem 8
a) a = 32

−1 6 − 22 − 2 y
b) x f=
= ( y)
4
R f −1 D f : x ≤ 0 ; =
c) = D f −1 R f : y ≤ − 7

Skills Questions

2c − 2b 1
Question 1 log 7 ( 259 ) = Question 2 a=
d 1100
 ( x + 1) 2 ( x + 2) 
Question 3 3ln ( 2250 ) = 3a + 6b + 9c Question 4 ln   = 2b + c − 2 a
1

 x 
Question 5 −32u14 v15 w19 Question 6 x = −611
Question 7 x = 15
22 Question 8 x< 2
9

3 −2 −1 7 1
x4 y 5 z 4 x12 z 4
Question 9 x < 14
13
Question 10 1 −1
= 12
2
x y z
6 2
y5

Answers Seminar 5 Mathematics 1 for Economics

• Problem 1
a) Stationary point : (1, −1) ; The absolute minimum is f (1) = − 1.
1
b) Stationary point : ( , 1) ; The absolute maximum is g ( 12 ) =1.
2
2 2
c) Stationary point : (1, ) ; In the stationaire point (1, ) neither a minimum nor a maximum.
e e
1
d) Stationary point : ( ,8e 2 ) ; The local minimum is k ( 12 ) =8e 2 .
2

• Problem 2
 Short answers seminar questions Mathematics 1 for Economics

 − 13  −1
a) g e  = is a (global) minimum.
  3e
 ln 2 
b) f  = −4 2 is a (global) minimum.
 2 
 −1  1
c) h   = 0 is a (global) minimum and h   = 4e 2 is a (local) maximum.
 2  2

• Problem 3
1 2  1
a) f ' ( x ) =4 ⋅ 2 x + 2 ( 2 ) =8 x + b) y − 1= 8  x −  ⇔ y = 8 x − 3
2x x  2
2 1 1
c) f '' ( x )= 8 − d) Concave: 0 < x < ; Convex: x >
x2 2 2
e) lim ( 4 x 2 + 2 ln ( 2 x ) ) = −∞ ; lim ( 4 x + 2 ln ( 2 x ) ) =
2
∞
x↓0 x →∞

f) D
= f −1
B f : ( −∞, ∞ ) ; g) ( f ) ' (1) = 18
−1

• Problem 4
A horizontal tangent in ( −1, − 3) , (1,3) and ( 0, 0 ) .
There are no points at which the tangent to the curve is vertical.

• Problem 5
a) Domain: x ≤ 3 Range: y ≤ 1
b) f '(2) = 12 .
c) ( or f −1(y ) =
f −1(y ) = 3 − (1 − y )2 −y 2 + 2y + 2 ).
Domain f −1(y ) : y ≤ 1 ; Range f −1(y ) : x ≤ 3
d) If x = 2 then y = 0 and ( f −1)'(y ) = −2y + 2 so ( f −1)'(0) = 2 .

• Problem 6
2
 2x
a) f '(x )  e x  (2x  2) If x  0 then f '(x )  0 , so the function is increasing everywhere on its
domain.
b) y  1 c) f 1(y )  1  1  ln y
d) Domain of the inverse function f 1(y ) : y  1 ; Range of the inverse function f 1(y ) : x  0

• Problem 7
x
a) f '(x )   3
; b) 0 y 1
(x 2  1)2
2x 2  1
c) f ''(x )  5
; Concave for:  1
2
x  1
2
2
(x  1) 2

d) f (x )  1  21 x 2
 Short answers seminar questions Mathematics 1 for Economics

3
−
• Problem 8 There is an inflection point for x = e 2
.

• Problem 9
f (−2) = −379 is a (global) minimum, f (0) = − 5 is a (local) maximum and f (10) =
= f (4) 785
3
is a
(global) maximum.

• Problem 10
f (−4) =− 3 is a (local) maximum and f (−3) =− 2e is a (global) minimum.

Skills Questions

Question 1 =x 4=
or x 6 Question 2 4
7 < x < 74 + 17 e 4
Question 3 x < 13 − 13 ln(6) Question 4 x= 5
36

Question 5 x= 1 4
2 4 Question 6 −74
9 ≤x< 2
3

Question 7 7
3 < x ≤ 883 Question 8 x = 13
62

Question 9 x = −8 Question 10 2 < x ≤ 3 or x ≥ 6

Answers Seminar 6 Mathematics 1 for Economics

• Problem 1
a) q '(5) = −60 × e −1.5 ≈ − 13.39 b) El p q p =5
=−0.3 × 5 =−1.5
∆q
c) ≈ − 3% so quantity demanded will decrease with approx. 3 %.
q
d) p > 10
3
, so a price that exceeds $ 3.33.

• Problem 2
q
a) El p q p 4
  0.8 b)   2.4%
q
p
c) El (p)   d) p5
5

• Problem 3 El pq =−2 ⇔ p =2

• Problem 4
a) q = 40 maximizes the profit. b) q=40 → p =320 ; If p =320, then El pq =− 4.

• Problem 5
3
a)` dr (10)  800 b) df (2)  dx
5
4
884,731
c)` dy(16)  128
dx  6911.9609 dx d) dp  2  3q  ln(3)dq
 Short answers seminar questions Mathematics 1 for Economics

• Problem 6
a) ∆y ≈=
dy ( ln(2) + 1) ⋅ 0.5 ≈ 0.85 ; = ∆y 2.5ln(2.5) − 2 ln(2) ≈ 0.90
b) y ( x) ≈ 2 ln(2) + ( ln(2) + 1)( x − 2 ) ≈ 1.39 + 1.69 ( x − 2 )
c) y ( x) ≈ 2 ln(2) + ( ln(2) + 1)( x − 2 ) + 14 ( x − 2) 2 ≈ 1.39 + 1.69 ( x − 2 ) + 0.25( x − 2) 2

x
• Problem 7 E f ( x) = f '( x) ⋅ = b
f ( x)
• Problem 8
a)` x =−5 ∨ x =3 b) x= 0 ∨ x =∨
1 x= −1
c)` no discontinuity d) x =−5 ∨ x =− 3

• Problem 9
1 1
a) lim− = −∞ b) lim+ = ∞
x→4 x − 4 x→4 x − 4

1 1
c) lim does not exist d) lim− =∞
x→4 x − 4 x →3
9 − x2
1 1
e) lim+ does not exist f) lim does not exist
x →3
9 − x2 x →3
9 − x2
x 2 − 3x − 4 x+3 −2 1
g) lim+ =0 h) lim =
x→4 x−4 x →1 x −1 4
.
x−2 −2 1 −56t + 112
i) lim = j) lim 3 = −2
x →6 x−6 4 t →2 t 2 + 3t − 10

• Problem 10
f ( x ) is continuous for x = 3 and f ( x ) is not continuous for x = 5 (“perforation”).

• Problem 11
− 12 x 2
a) f '(=
x) e ⋅ (−x ) . The only stationary point is x = 0. The (global) maximum is: f (0) = 1
− 12 x 2 − 1 − 1
b) f ''(x )= e ⋅ (x + 1)(x − 1) . The inflection points are: (−1, e 2 ) and (1, e 2 ) .
c) f is concave for –1 ≤ x ≤ 1.
d) g(x )= 1 − 12 x 2 e.) f ( 12 ) = e −0.125 ≈ 0.882 and g( 12 ) = 1 − 12 × 14 = 87 = 0.875 .

f.) f (2) =e −2 ≈ 0.135 and g(2) =1 − 12 × 4 =−1 and this is a bad approximation.
Obviously, 2 is too far away from 0 to make the approximation good, while at ½ the approximation is
o.k.

• Problem 12

a) 2
b) ∆y ≈ − 0.02 so y will decrease with approx. 0.02.
y'
( 2 ,1) = − 3
c) y − 1 =− 32 (x − 2) or y =− 32 x + 7
3
 Short answers seminar questions Mathematics 1 for Economics

• Problem 13
a) q '(2)  0.7 b) dq  0.7dp for p  2 c) q   0.014

• Problem 14

100 100 p dq 10
a) q′(10) =
− =− 20 ; = El p q p 10=
= ⋅ p 10 = ⋅− 20 = − 2
50 q dp 100
∆q
b) ×100% ≈ − 4% . So the quantity demanded will decrease by approximately 4%.
q

• Problem 15

a) A = $149029.49 b) $367,855.91 c) $18, 750

Skills Questions

2 27 27
Q1 f ′( x) =− ⋅ 99 x88 =− 66 x98 Q2 ′( x)
f= = 2
( )
3 5 5 2
x
5x 5
26 103 70 73 4 −32 26 3 3 70 4
Q3 f ′( x) = x + x + x (= x x + x2 3 x + )
3 3 3 3 3 3
3 x2
15 2 9 3x 4 + 8 x3 + 1
Q4 ′( x)
f= x + Q5 f ′( x) =
36 ( x 4 −1)
2
2 2

8(6x − 7) 62 x −1
Q6 f ′( x) = Q7 f ′( x) =
5 5 ( 3x 2 − 7 x ) 2 x 62 x
3

x) 6 x11 ( −2 x3 + 3) ( − x − 1) (10 x 4 + 8 x3 − 9 x − 6 )
3 5
Q8 f ′(=
5 ( 6 x − 3)
2
( −2 x − 5)
3

Q9 f ′( x) = − 68 Q10 ) 12 ( 6 x − 3) ln ( 5 x + 4 ) +
f ′( x=
( −3x + 1)
5
5x + 4

Answers Seminar 7 Mathematics 1 for Economics

• Problem 1
1 2
a) x
2 x + 6x + e + c b) 35
3 y 3 + 212 y 2 + c
c) 4x2 + c ( x ≠ 0) d) 2
3 x x −2 x +c
6
e) 1
25 y5 + + y+c f) t +c
y
g) 2 ln x + c
1
h) 1
ln(5) ⋅ 5 x + 16 x 6 + c
2
i) +c j) 1
15 x 3 − x + 52 ln x + c
27 x 2
 Short answers seminar questions Mathematics 1 for Economics

• Problem 2
x 3 5x 2 x 1 1
a) + − +c b) ⋅ 10 3 x + c = ⋅ 1000 x + c
9 12 2 ln 10 3
ln 1000
1 4 2 3
c) 4 y + 9 y +c d) x + ex + c
47 x
e) 1
2 x 2 + 1x + c f) +c
ln 47

• Problem 3
−5
(x + x) + c
2 7
a) 1
b) +c
6 ( 3 x − 1)
7 2

−1 2
x
c) −e 2
+c d) ln x 2 + 2 x −1 + c
−1 1 4
e) ln 3 − 4 x 3 + c f) ln 4 x + 1 + +c
21( x − x 6 )
7
6 2 3

(x + 5) + c ln ( e3 x + 1) + c
2 2
g) 3 3
4 h) 3
2
1 3
x2 +
i) x + 6 − 3ln x + 6 + c j) e2 2
+c
1

( 2x + 9) + c
2 x2
3
k) 1 3
4 l) 7 x 2 − 4e 4 + c

• Problem 4
x4 9 x4
a) y =− + 2 x 2 − x + b) y= + x 2 − 5 x + 13
4 4 12
• Problem 5
−5
a) , S
= +c b) I =3
I +2
• Problem 6
75 −3
If q = 5 then p = 75 , so E pq = = .
− 2 ⋅ (5) 2
2
• Problem 7
a) The marginal costs for q = 40 are $140 per product.
b) The total costs of producing 40 units are $14.000 .

• Problem 8
a) 0 b) ln ( 43 ) + 72
c) −27
2
d) 7
3

−3
e) 10 ( e −0.1 − e0.1 ) f)
2
1 −4 14
g) e (1 − e −2 ) h)
2 3
206 15
i) j)
3 28
 Short answers seminar questions Mathematics 1 for Economics

• Problem 9
1
a) (
2 2 2 − 7 ≈ 0.365 ) b)
4
ln(2) ≈ 0.173
1 −1
c) ( ln(17) − ln(10) ) ≈ 0.265 d)
2 6
e) 0 f) 6 + ln(19)

• Problem 10
19
a) 1 b)
3
2
c) 6 d)
27 ln(3)
125
e) 20 f) 36 g)
6

• Problem 11
125 255
a) 4 b) ≈ 10.42 c) − 2 ln(4)
12 32

• Problem 12
a) 5229 euro.
b) About 1367.99 euro.

• Problem 13
1 5 3
a) P (1 ≤ x ≤ 2) = b) P (1 ≤ x ≤ ) =
9 2 8
1 8
c) P ( x ≤ 1) = d) P( x ≥ 1) =
9 9
.
• Problem 14
5
P(1 <=
x < 4) ; P(1 ≤ =
x ≤ 10) 1
6

Skills Questions

−9 9 14 ln ( 7 x − 5 )
Question 1 f ′( x)
= − Question 2 f ′( x) =
−9 x + 4 9 x + 1 7x − 5
−1
Question 3 f ′( x) = Question 4 f ′( x) =
97 x ⋅ ln(97) + 97 x96
2 x 2 − ln x

( )
4
Question 5 f ′( x) = − 2*7 2− 2 x *ln ( 7 ) f ′( x) 40e8 x e8 x − 9
Question 6 =
−2 −540
Question 7 f "( x) = Question 8 f ′′′( x) =
( x + 1)
3
7 x6
Question 9 u= −78
5
Question 10
= a 7
2or a
= 17
22
 Short answers seminar questions Mathematics 1 for Economics

Answers Seminar 8 Mathematics 1 for Economics

• Problem 1
∞
1 1
a) ∫1 x5 dx = 4 ; The improper integral is convergent.
∞
2
b) ∫1 x
dx = ∞ ; The improper integral is divergent.
0
1
c) ∫
−∞ 1− x
dx = ∞ ; The improper integral is divergent.

∞
5 5
d) ∫ 12 x
3
2
dx =
36
; The improper integral is convergent.
10
1
e) ∫x
0
2
− 6x + 9
dx = ∞ ; The improper integral is divergent.
0
1
∫e
3x
f) dx = ; The improper integral is convergent.
−∞
3
∞
1
g) ∫ 2 x + 1 dx = ∞
1
; The improper integral is divergent.
∞
x 1
h) ∫ dx =
5
; The improper integral is convergent.
(x + 9)
2 3
4

∫ xe
1− x 2
i) dx = 0 ; The improper integral is convergent. .
−∞
2
1
j) ∫0 2− x
dx = 2 2 ; The improper integral is convergent.

• Problem 2
a)

b) The equilibrium price is 225 euro, the equilibrium quantity is 60.

c) Consumer Surplus is 3375 euro.
d) Producer Surplus is 4500 euro.
 Short answers seminar questions Mathematics 1 for Economics

• Problem 3
a) (10) g=
f= (10) 10 b) * q=
p= * 10
128 12
c) PS = 10 + − 6 ≈ 42.87 d) CS 105ln(21) − 100 ≈ 219.67
=
3 3

• Problem 4
5000
a) CS
= ≈ 1666.67 ; PS = 750
3
500 160
b) CS
= ≈ 166.67 ; = PS ≈ 53.33
3 3
44 22
c) CS
= ≈ 14.67 ; PS
= ≈ 7.33
3 3

• Problem 5 Change in population = 20, 000

Problem 6 (September 8, 2011, problem 1a)

2
 x −1 1 1 1
∫   dx = x − ln x −
2x  4 2 4x
+c

Problem 7 (March 27, 2012, problem 1a)

x2 1 2 1 1
∫ 1+ 2x
dx =
4
x − x + ln 1 + 2 x + c
4 8

Problem 8 (June 14, 2011, problem 1a)

−5
∫ 5x 5 − x 2 dx=
3
( 5 − x2 ) 5 − x2 + c

Problem 9 (October 25, 2010, problem 1d)

66 66
dc 2000
c(66) − c(20)= ∫
20
dq
dq= ∫
20 6q + 280
dq= 4000

Problem 10 (October 25, 2010, problem 1a)

x2 1 2 1 1
∫ 3x + 1
dx=
6
x − x + ln 3 x + 1 + c
9 27

Problem 11 (July 9, 2010, problem 1a)

3
∫
2 2
(3 x + 6)e − ( x +4 x)
dx = − e − ( x + 4 x ) + C.
2
Problem 12 (June 18, 2010, problem 1)

1 −1
∫ =
5 x(ln x) 7
dx
30(ln x)6
+c
 Short answers seminar questions Mathematics 1 for Economics

Problem 13 (April 1, 2010, problem 1)

x2 + 3 1
∫ x + 6 dx= 2 ( x + 6 ) − 12 ( x + 6 ) + 39 ln x + 6 + c
2

Problem 14 (June 15, 2009, problem 1a)

33 33
dc 1000
c(33) − c(10)= ∫ dq= ∫ dq= 2000
10
dq 10 3q + 70

Problem 15 (April 2, 2009, problem 1b)

5x 25
∫x 2
− 10 x + 25
= 5ln x − 5 −
dx
x −5
+c

Problem 16
1
P ( X > 1) = ≈ 0.0067
e5

Skills Questions
−3
Question 1 D f : x > 1 + 13 e 2 ; D f −1 = R f = ( −∞ , ∞ ) = 
2 x 4 + 4 x3 + 2 x 2 −2
Question 2 lim 5 = Question 3 x ≤ −45 or x ≥ 76
x → 0 x + 7 x3 − 5 x 2 5
8
Question 4 x≤ .
9
f (−1) = 3 is a (local) minimum f (6) = − 39 is a (global) minimum,
−19
Question 5
f (0) = − 3 is a (local) maximum and f (10) = 913 is a (global) maximum.
7y + 2
Question 6 Dk −1 =Rk : y ≠ 2 ; Rk −1 =Dk : x ≠ 7
4
; x=k −1 ( y ) =
4y −8
−36 81
∫ x (x + 1) dx= (x + 1) + c
4 5
3 4 4
Question 7 f "( x)
= + Question 8 1

( 6 x + 1) (9x − 7)
2 2 20

x 1 7
Question 9 ∫ 2
=dx ln ( x 2 + 6 ) + c Question 10 ∫ ( 2 x − 7e ) dx =+
−5 x
x e 2 −5 x
+c
x +6 2 5

Answers Seminar 9 Mathematics 1 for Economics

• Problem 1
∂z ∂f 1 ∂f ∂z 21
a) = ⋅ + ⋅ (u − s ) b) =s 2,=t 1,=
u 3,=
x 13,=
y 1 =
∂t ∂x 2 t ∂y ∂t 2

• Problem 2
a) q1 (40, 20) 1700
= = and q2 (40, 20) 6400
∂q ∂q1 ∂q2 ∂q2
b) 1 (40, 20) = −80 ; (40, 20) =
80 ; (40, 20) =
180 ; (40, 20) =
−120
∂p1 ∂p2 ∂p1 ∂p2
 Short answers seminar questions Mathematics 1 for Economics

c) ∆q1 ≈ − 120 ; ∆q2 ≈ 210

32 16 9 3
d) El pq11 (40, 20) =
− , El pq12 (40, 20) ==
, El pq12 (40, 20) , El pq22 (40, 20) =
−
17 17 8 8
∆q1 ∆q2
e) ≈ − 4.71% ; ≈ 2.63%
q1 q2

• Problem 3
100 40
a) q1 (40,100) =
50 ⋅ ≈ 790.57 ; q2 (40,100) =
1000 ⋅ ≈ 632.46
40 100
b) ∆q1 ≈ 3.95 ; ∆q2 ≈ − 9.49
∆q1 ∆q2
c) ≈ − 0.5% ; ≈ 1.5%
q1 q2

3
• Problem 4 The sum of the elasticities is .
2
• Problem 5
∆w
a) ∆w ≈ 0.25 b) ≈ 1.875%
w
• Problem 6
a) f (1) = g(1) = 2 . so the point (1, 2) is an intersection point.
1 1
7 1 1 1
∫ g ( x) dx= ∫ f ( x) dx =− 2 + 2 e
4
b) − 2 c)
0
3 3 0
1 ∞
17 1
d) ∫ g ( x) dx + ∫ f ( x) dx =
0 1
−
6 3
2

• Problem 7

a) df ( x, y ) = ½ ⋅ ( x + 2 y ) dx + ( x + 2 y )
−½ −½
dy
b) f ( x, y ) ≈ 2 + ¼ ( x − 2 ) + ½ ( y − 1)

• Problem 8

f ( x, y, z , u ) ≈ 6 + 0 ⋅ ( x − 1) + 11 ⋅ ( y − 1) + 6 z + 3 ⋅ ( u − 2 ) = − 11 + 11 y + 6 z + 3u

Skills Questions

 −2  2
Question 1 ∫  t − 4 xt + 2t  dt = − 2 xt 2 + t 2 + c
2
 t
 −qx 3
 1 qx 4 1
Question 2 ∫ 
 2L
+ 1
4 qLx 

dx =−
8 L
+ q Lx 2 + c
8

 v  ln ( 2 + v 2 )  4v  ( )
2 ln 3 + kv 2
Question 3 ∫ = 2 
2+v 
dv
2
+c Question 4 ∫=
 2 
 3 + kv 
dv
k
+c
 Short answers seminar questions Mathematics 1 for Economics

∫ ( 6cx − 10ce ) dx =3cx

2
Question 5 −cx
+ 10e −cx + k
 4k 
Question 6 ∫  t
− 4ke −kt  dt = 8k t + 4e −kt + c


 ( )
 q L2 − x 2 
 dx =q L x − 1
q x3
Question 7 ∫ L  3 L
+c
 
 1 2 2

 4D  h − y   D y 4D y 3
 4   dy =
Question 8 ∫ b h3  bh
−
3b h 3
+c
 
 
1 11
( ) ( )
4 5
∫ x x + 9 dx= 55 x + 9 + c
10 11
Question 9
1
−913
Question 10 ( 5
)(
∫0 x − 10 x 4 x + 5 dx =
4
) 30

Answers Seminar 10 Mathematics 1 for Economics

•Problem 1
∂z −1 ∂z −3
a)
= 1 = ; 1 b) ∆z ≈ − 0.02 ; znew ≈ 0.48
∂x =x 1,=y 2,=z 2 2 ∂y =x 1,=y 2,=z 2 8

• Problem 2
a) f is homogeneous of degree 1. b) Elx (z )  Ely (z )  1
∆z
c) Elx z x 1,=
= y 1,=z 1 = 2 ; El y z x 1,=
= y 1,=z 1 = −1 d) ≈ 5% e) z (1)  8
z

• Problem 3
a) f is homogeneous of degree 2. b) Elx (z )  Ely (z )  2
∂z ∂z
c) 1, y =
x= 1, z = =
1+ e 1 + 3e ;
1, y =
x= 1, z =
1+ e = 1− e
∂x ∂y
1 + 3e 1− e
d) Elx z x =
1, y = =
1, z =
1+ e ≈ 2.5 ; El y z x =
1, y = =
1, z =
1+ e ≈ − 0.5
1+ e 1+ e
e) f is elastic with respect to x and inelastic with respect to y in point (x , y, z )  (1,1,1  e) .

• Problem 4
a) q (1000,343) = 7290 b) ∆q ≈ − 52.9 ; ∆q =− 54.0
c) q (tK , tL) = t ⋅ q ( K , L)
1000 270 343
d) ElKq (1000,343) =5.4 ⋅ ≈ 0.741, and ElLq (1000,343) = ⋅ ≈ 0.259
7290 49 7290
∆q
e) ≈ − 0.705%
q
 Short answers seminar questions Mathematics 1 for Economics

• Problem 5
f (tx, ty )= t 3 ⋅ f ( x, y ) , so f is homogeneous of degree 3. f x′ (1,1) + f y′ (1,1) =
0.

• Problem 6 =a 2=
,b 1

• Problem 7
a) u (tx, ty ) = t ⋅ u ( x, y )
b) Utility increases with appr. 0.25 % if y increases with 1 % while x remains unchanged.

• Problem 8
∂z −7 ∂z −2
a) df x 1,=
= y 0,=z 2 = 7 dx + 2dy + 3dz b)
= x 1,=
= y 0,=z 2 = ; x 1,=
= y 0,=z 2
∂x 3 ∂y 3

• Problem 9 ElKq (20, 40) = 0.54

• Problem 10
a) In (1, − 1) : y + 1= ( x − 1) or y= −21 x − 12
−1
2

In (1,1) : y − 1= 2(
1
x − 1) or y= 12 x + 12
b) 2
y+= ( x − 3) or =
−19
44
y −4419 x − 44
31

c) y − 2 = ( − 1) or y = 72 x − 23
7
2
x
d) y − 1 =− 1( x − 0 ) or y =− x + 1
e) y − 50 =− 1( x − 25 ) or y =− x + 75

• Problem 11
f (1,1) 1 f q ( 2,1) 4
a) y′(1) =
− x =
− b) p′(1) =− =− =−2
f y (1,1) 2 f p ( 2,1) 2
f (1, 0 ) 0
c) r ′(0) =
− s =
− = 0
f r (1, 0 ) −1

• Problem 12
1 2 13
a) z =1 − ( x −1) − ( y −1) b) 1
z =− ( x − 2) + 3( y − 3)
3 3 2

• Problem 13
3
a) z =3 − 3( x −1) − ( y − 2) b) z =1 + e − e ( x − ee ) + (1 − e) ( y −1)
2

Skills Questions

L 3
e5 x − 5
∫ ( P ( x − L) − Px ) dx = ∫
2
Q1 1
5
1
5
1
5PL Q2 x
dx = 14 e12 + 5e −3 − 21
4
0 0
e
 Short answers seminar questions Mathematics 1 for Economics

3 3
x2 + 4
∫ ( 5x − 5) dx = 13 ln ( 7 ) + 23 ln ( 3) − 13 ln (13)
2
Q3
0
75
dx = Q4 ∫
1
x 3 + 12 x

∫ ( 3 ( 3 + 2 x ) x ) dx = ( 25 (1 + e ) e ) dx =
4 2ln(2)
2 2 x 4
∫
x
Q5 10,386 Q6 10,505
2 ln(3)

 8 ( ln( x) )3 
5
e e4
 18ln( x) 
Q7 ∫ 
 x 
 dx = 216 Q8 ∫ 
 x
 dx = 510

e e  
3 2
1
∫ ( 9 x ) dx = 18

Q9
0
3 Q10 ∫
1
 5x + 5  dx =
 x 
495
64

Answers Seminar 11 Mathematics 1 for Economics

• Problem 1
a) The stationary points are ( −2, − 3) , ( −2, − 1) , ( 2,1) and ( 2,3) .
f ( −2, − 3) =56 , f ( −2, − 1) =72 , f ( 2,1) =− 72 and f ( 2,3) =− 56 .
b) ( −2, − 3,56 ) and ( 2,3, − 56 ) are saddle points ;
f ( −2, − 1) =72 is a local maximum ; f ( 2,1) = − 72 is a local minimum

• Problem 2
a) π ( q1 , q2 ) =
− 4q12 − 2q1q2 − 8q22 + 16q1 + 58q2 .
b) Maximum profit
= for q1 5=
and q2 3 .
π q′ ( 5,3) =
1
0 , π q′ ( 5,3) =
2
0 , π q′′ q ( 5,3) < 0 and D ( 5,3) > 0
1 1

• Problem 3
a) The stationary points are ( 0,1) and ( −21 ,=
4).
3
and f ( −21 , 34 )
f ( 0,1) 0= 1
16 .
b) ( −21 , 34 , 161 ) is a saddle point ; f ( 0,1) = 0 is a local minimum

• Problem 4
−6
a) f ( 0, − 3)
The stationary points are ( 0, − 3) and ( 0,1) .= and
= f ( 0,1) 2e .
e3
−6
b) ( 0,1, 2e ) is a saddle point ; f ( 0, − 3) =3 is a local minimum
e
• Problem 5
a) π ( q1 , q2 ) = ( 96 − q1 − q2 )( q1 + q2 ) − q12 − 20q1 − 100 − 12 q2 2 − 30q2 − 50
π ( q1 , q2 ) =
− 2q12 − 2q1q2 − 32 q2 2 + 76q1 + 66q2 − 150 .
b) Maximum profit
= for q1 12
= and q2 14 .
π q′ (12,14 ) =
1
0 , π q′ (12,14 ) =
2
0 , π q′′ q (12,14 ) < 0 and D (12,14 ) > 0
1 1

• Problem 6
a) W ( q1 , q2=
) 300q1 − q13 + 220q2 − 10q2 2 − 925
 Short answers seminar questions Mathematics 1 for Economics

∆W
b) Elqw1 (5,15) = 0.75 Elqw2 (5,15) = − 0.80 c) ≈ 2.3%
W
d) Maximum profit
= for q1 10
= and q2 11: W (10,11) = 2285
W1′ (10,11) 0,=
= W2′ (10,11) 0
W11 ''(10,11) < 0, W12 ''(10,11) =
0, W22 ''(10,11) =−20 < 0 ; W11 ''(10,11) ⋅ W22 ''(10,11) − (W12 ''(10,11)) 2 > 0

• Problem 7
a) W ( q1 , q2 ) = (36 − 3q1 )q1 + (40 − 5q2 )q2 − q12 − 2q1q2 − 3q2 2
b) Maximum profit
= for q1 4=
and q2 2 :
W1′ (2, 4) 0,=
= W2′ (2, 4) 0
W11 ''(2, 4) =−8 < 0, W12 ''(2, 4) =−2, W22 ''(2, 4) =−16 < 0 ; W11 ''(2, 4) ⋅ W22 ''(2, 4) − (W12 ''(2, 4)) 2 > 0

• Problem 8
2p ∆q
a) EL p q =
p−4
;
q
≈ − 2 × 2% = − 4%( ) b) The demand is inelastic if 0 ≤ p < 4
3

c) q (tL, tK )= t1 × q ( L, K ) , so q(L, K ) is homogeneous of degree 1 (constant returns to scale).

0.9 3.5
d) ElL q (27,125)
= ≈ 0.2045 ; ElK q (27,125)
= ≈ 0.7954
4.4 4.4

• Problem 9
a) The stationary points are ( −8, − 4 ) , ( 0, 43 ) and ( 2,1) .
−224 32 26
f ( −8, − 4 )
= = , f ( 0, 43 ) and f ( 2,1)
= .
3 3 3
 −224   26  32
b)  −8, − 4,  and  2,1,  are saddle points ; f ( 0, 3 ) = is a local maximum
4

 3   3  3

Skills Questions

 6 1  −3 1 1 2 4
∫  x ∫ ( 3ax + 2a 2 x3 ) dx =
2
Q1 3
+ 2 
dx = 2 − +c Q2 ax3 + a x +c
4x  x 4x 2
2
 5v  10 5
Q3 ∫1
 2 =  dv
 3v + 4  3
ln(2) − ln(7)
6
=
Q4 PS 360
= ; CS 792

20
Q5 PS 0.50 ; CS ≈ 0.28
= Q6 f x( x, y )  45 x 4 y 4 
x3 y 9
500 180
Q7 f xy( x, y )  810 x8 y 8  . Q8 f yy ( x, y )  90 x3 y 8  6 11
x11 y11 x y
7
−3 x 7 y 6 + 12 x3 y 2  5   10 
Q9 f y ′ ( x, y ) = Q10 f y ′ ( x, y ) =
8  4 x5 y 2 + 4 2   8 x5 y − 4 3 
( 3x 4 y 4 + 4 )
2
 x y   x y 
 Short answers seminar questions Mathematics 1 for Economics

Answers Seminar 12 Mathematics 1 for Economics

• Problem 1
a)= q1 100
= and q2 200
= : U max U (100, 200) ≈ 35,088.213
U (0,800) =
0 < U (100, 200) and U ( 400
3
,800) =
0 < U (100, 200)
b) λ ≈ 5.848 ; ∆U max ≈ 1169.6

• Problem 2
a) F (K , L)  2 ln 150  8 ln 200  751 K  150  251 L  200
b)=K 216
= and L 288
= : Fmax F (216, 288) ≈ 56.05424
F (219, 287) ≈ 56.0540 < F (216, 288) and F (213, 289) ≈ 56.0540 < F (216, 288)
1
c) =λ ; ∆Fmax ≈ 0.0185
108
• Problem 3
a) q(K , L)  30  201 K  100  1
40 L  400
b)=K 100
= and L 400
= : qmax q (100,
= 400) 30
q (0,600) ≈ 24.5 < 30 and q (300,0) ≈ 17.3 < 30
c)=λ 0.025 ; ∆qmax ≈ 0.10

• Problem 4
a) dq (K ,L )(100,400)  dK  14 dL b) ∆q ≈ 1.5
c)=K 300
= and L 200
= : qmax q (300, 200) ≈ 244.95
q (0, 400) =
0 < q (300, 200) and q (600,0) =
0 < q (300, 200)

• Problem 5
a) dU (q1 ,q2 )(8,2)
 21 dq1  dq 2 b) ∆U ≈ 0.4
c)=q1 300=
and q2 100
= : U max U (300,100) ≈ 32.025
U (285,110) ≈ 32.011 < U (300,100) and U (315,90) ≈ 32.010 < U (300,100)
1
d) =λ ; ∆U max ≈ 0.004
750
• Problem 6
=q1 300=
and q2 900
= : Cmin C (300,900)
= 13,500
C (1;81,000,000) =
405,000,030 > 13,500 and C (9000;1) =
270,005 > 13,500

• Problem 7
a) P= 7.5 and W =
1: rmax =r (7.5,1) ≈ 82.1538 (× 1000 euro )
r (0, 4) =
0 < r (7.5,1) and r (10,0) =
0 < r (7.5,1)
b) λ ≈ 8.216 ; ∆rmax ≈ 16.432 (× 1000 euro )

• Problem 8
a) = K 54=
and L 45
= : qmax q (54, 45) ≈ 11.785
1
b) =λ ; ∆qmax ≈ 0.044
137
 Short answers seminar questions Mathematics 1 for Economics

• Problem 9
a)= K 1
6
and L
B= 1
3
=B : qmax q (=
1
6
B, 13 B ) 1
9
B b) =λ 1
9
; ∆qmax ≈ 19

• Problem 10
a) = q1 4 and
= q2 6 := (4,6) 272
U max U= b) =λ 5 ; ∆U max ≈ 10 ; U max,new ≈ 282

• Problem 11
a) dU (q ,q )(10,5)  0.1dq1  0.1dq 2 b) ∆U ≈ 0.02
1 2

c) =q1 30 =
and q2 10
= : U max U (30,10) ≈ 4.5525

• Problem 12
a) q (tK , tL) = t ⋅ q ( K , L) ; The production function is homogeneous of degree 1.
∆q
=
= b)
ElKq ( K , L ) (30,50)
= 0.4
= ; ElLq ( K , L ) (30,50) 0.6 c) ≈ 1%
q
d) =K 30=
and L 45
= : Cmin C=
(30, 45) 720
C (31.18;44) ≈ 720.62 > 720 and C (28.95;46) ≈ 720.55 > 720

1 1
• Problem 13 df ( x, y ) =
= ( 2, 8 )
dx + dy
6 72

• Problem 14
5
2
a) K= 1 and L = e 4 ≈ 54.60 ; q (2, 2) =
= 4 : qmax= q (1, 4) e 2 2 < e 4 and q (5, 12 ) =
e 2 < e4
e4
b) λ= ≈ 27.299
2

Skills Questions

f yx ( x, y )  81x8e x y  7 1  x9 
6 6 9
Q1 f y( x, y )  24 x 6 y 5e x y 6
Q2
60 x5 y 3
2  3 x3 y 8 
3 8
Q3 f xx( x, y ) 15 xy 8e x y 9
Q4 f x( x, y ) 
10 x 6 y 3  3
x 6 y 7 144  9 x12 y16 
Q5 f yy ( x, y )  2
Q6 z, λ ) ( 8 , 10 , − 6 , 2 )
(x, y,=
 x 6 y 9  2
Q7 (x , y , λ ) = ( , , )5
3
−5
6
5
6
Q8
= L 9000
= and K 2000 and λ ≈ 0.6575

Q9 (q ,q , λ ) = ( 20 , 80 ,13)
1 2

4 4 39
Q10  y  9   x  6 or y  x  or 4 x  7 y  39  0
7 7 7