EXERCISES OF REVIEW

Mathematics for Business & Economics

Đào-Bảo-Dũng
Problem 01 : Let 𝐴 and 𝐵 be square matrices of order 3 satisfying 𝐴 = −2, 𝐵 = 4. We
denote by 𝑃𝐴 the adjoint matrix of 𝐴. Calculate
(a.) |2𝐴−1 . 𝐵2 |.
(b.) |𝐴−1 . 𝑃𝐵 |.
(c.) |𝑃2𝐴 |.

Problem 02 : Given the three matrices as follows

1 1 2 1 −2 2
𝐴= 2 𝑚 1 , 𝐵= 2 1 1 and 𝐶 = (1 −1 1)
1 𝑚 2 1 0 1
(a.) Find the value of 𝑚 such that 𝐴 is singular.
(b.) Calculate 𝐵 −1 𝐶 𝑇 .

Problem 03 : Given the matrices

1 3 1 1 1 𝑚
𝐴 = 1 −2 1 and 𝐵 = 2 1 −1 .
0 1 1 𝑚 2 2
(a.) Find the rank of 𝐴.
(b.) Find 𝑚 such that the rank of 𝐵2 is equal to 3.
(c.) Find 𝑚 such that the rank of 𝐴3 𝐵2 is less than or equal to 2.
Problem 04 : Given the two systems
𝑥 + 4𝑦 − 𝑧 = 2 𝑥+𝑦+𝑧 =1
𝐼 ∶ 𝑥 + 𝑦 + 2𝑧 = −1 and 𝐼𝐼 ∶ 𝑥 + 2𝑦 + 2𝑧 = 𝑎
−2𝑥 + 𝑦 − 7𝑧 = 𝑚 2𝑥 + 𝑦 + 𝑧 = 𝑏
(a.) Find the value of 𝑚 such that the system (𝐼) has infinitely many solutions.
(b.) Find the value of 𝑎, 𝑏 such that the system (𝐼𝐼) has no solution .

Problem 05 : Consider a Leontief Open Input-Output Model where the Leontief matrix as
follows
0.3 0.2 0.1
𝐴 = 0.2 0.3 0.2
0.2 0.3 0.4
(a.) Suppose that N3 requires 200 units from N2. How many units of production that N3
requires from N1 ?
(b.) Find the output matrix 𝑋 if final demand changes to 400 for N1, 530 for N2, and 150
for N3.
Problem 06 :
(a.) Knowing that 𝑃 = 40 − 0.15𝑄2 where 𝑃 is the price and 𝑄 is the output. Determine
the price elasticity of demand when 𝑃 = 30.
(b.) Given the implicitly defined function ln 𝑦(𝑥) + 𝑥. 𝑦 = 0. Find 𝑦 ′ 0 .

Problem 07 : A manufacturer determines that 𝑚 employees will produce a total of 𝑞

units of a product per day, where
2𝑚
𝑞=
𝑚 + 10
25
If the demand equation for the product is 𝑝 = 𝑞+4, determine the marginal revenue
when this manufacturer has 15 employees.

Problem 08 :
A real-estate firm owns 100 garden-type apartments. At $400 per month, each
apartment can be rented. However, for each $10-per-month increase, there will be two
vacancies with no possibility of filling them. What rent per apartment will maximize
monthly revenue ?
Problem 09 :
Classify the critical points of the following function
𝑓 𝑥, 𝑦 = 2𝑥 4 + 𝑦 4 − 4𝑥 2 + 2𝑦 2 .

Problem 10 :
The production function for a firm is
𝑓 𝑥, 𝑦 = −𝑥 2 − 2𝑦 2 + 12𝑥 + 20𝑦
where x and y are the intputs. The cost to the firm of x and y is 4 and 8 per unit,
respectively. If the firm wants the total cost of input to be 88, find the greatest output
possible, subject to this budget constraint.

Problem 11 : Consider the differential equation 𝑦 ′ − 2𝑦 = 𝑒 2𝑥 (∗).

𝑌(𝑥) is denoted by the general solution to (∗). Calculate
lim 𝑌(𝑥)
𝑥→−∞

Problem 12 : Solve the following differential equation

𝑦 ′′ − 𝑦 ′ = 4𝑥 (1)