Unity University- College of Distance Education Calculus for Economists- 95

UNITY UNIVERSITY
COLLEGE OF DISTANCE AND CONTINUING EDUCATION
DEPARTMENT OF ECONOMICS
Calculus for Economists (Econ-1011)

95
WORKSHEET

Name: _________________________________________________________

ID No.________________________________________________________

Centre: ______________________ Semester ___________ Academic Year ________

This is a test paper you are expected to do on your own. It carries 25 points. The test paper
should be completed and mailed to the School of Distance and Continuing Education for
evaluation. Do not try to complete the worksheet until you have covered all the lessons and
exercises in the course material.

Any questions in the course that you have not been able to understand should be stated on a
separate sheet of paper and attached to this worksheet. Your tutor will clarify them for you.

After completing this test paper, be certain to write your Name, Id No and Address on the first
page. Your Name and Id No on the other pages only.

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Unity University- College of Distance Education Calculus for Economists- 95

Part I: Write “True” if the statement is correct and “False” if the statement is incorrect on
the attached answer sheet. (0.5 pt each)

g( x )=
√ 2 x +1
1. The function: x 2+3 is not a rational function.
2. The limit off(x) = x-3 asx approaches to 2 equals 0.
3. To be differentiable at a point, a function must be continuous at that point and have a unique
tangent at that point
4. If the total revenue function is given as follows: TR = 15Q2 – 10Q , where Q is the level of
output, then the marginal revenue (MR) function is MR=15Q-10
5. Given F (y, x) = 0, if an implicit function y = f (x) exists, then the derivative is
dy Fx dF dF
=− , F y≠0 where F x = and F y=
dx Fy dx dy
Part II: Choose the best answer and write the letter of your choice on the answer sheet
provided. (0.5 pt each)

1. The derivative of is

D.
A. B.

C. E. none
2. Let the revenue function R(Q) and cost function C(Q) be given as
R(Q)= 60Q +Q2
C(Q) = Q2 – 30Q +100
Then the profit function is:

A. 2Q2 – 90Q +100 D. 4Q2 – 90Q +100

B. Q2 – 90Q +100 E. Non
C. 90Q-100

3. eOn question number 2 above the profit maximizing level of output is

A. Q = 22.5 C. Q =90
B. Q = 45 D. Q = 100 None

4. The third derivation of f(x) = x3-2x2 +2x +4 is

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Unity University- College of Distance Education Calculus for Economists- 95

A. 6 C. 3x2 – 4x +2 E. None
B. 6x – 4 D. 3x2 - 4x

5. The partial derivation for the function

A. C. D.
E. None
B.

6. The relative minimum of the function is

A. 0 C. 2 E. None
B. 1 D. 3

7. The critical values of are

A. 1 & -1 D. 4 & -4
B. 2 & -2 E. No critical value
C. 3 & -3

8. For the implicit function -16 = 0, equals to _______________.

A. B. D.

C. E.

9. Which one is NOT true?

A. C.

B. D.
E. None

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Unity University- College of Distance Education Calculus for Economists- 95

10. Given the production function Q = 0.5 K2 -2KL +L2, the marginal product of labor (MPL)
function is

A. K – 2L
B. K–L
C. -2K + 2L
D. –K + L
Non

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Unity University- College of Distance Education Calculus for Economists-
95
ePart III: Solve the following problems. Show all the necessary steps clearly
1. Find the first four derivatives of the following function: (2.5 point)
f (x )=x 7 −8 x6 +5 x 3 +2 x+1
2. Find the total derivatives for the following function: (2.5 point)

Z = 8x-12y, where
3. A company manufactures and sells x transistor radios per week. If the weekly cost
and price-demand equations are:
C(x) = 5,000 + 2x
P = 10 – 0.001x, 0 ¿ x ¿ 10,000
Find: A. The maximum revenue (2.5 point)
B. The maximum profit (2.5 point)
2
4. Find the area of the region bounded by the curve y=−x −6 x−5 and the x-axis.
(2.5 point)
5. What combination of goods x and y should a firm produce to minimize costs when
the joint cost function is C = 6x2+10y2-xy+30 and the firm has a production quota
of x+ y = 34. (5 point)
Answer Sheet
Part I: True or False
1. _________
2. _________
3. _________
4. _________
5. _________
Part II: Multiple Choices
1. _______ 6. ______
2. _______ 7. ______
3. _______ 8. ______
4. _______ 9. ______
5. _______ 10. ______