MMEB1 - TEST B 16/12/14 ANSWER ALL QUESTIONS (a) (8 marks) Find the first, second and third order derivatives of the function y= (2x42) Answer: fed (ant) Qxe2) = 3G2enyi2= 60 ey ys @2 (oxeay* = Caxae) = 42 (2x42)-2+ 74CK42) yo = Dy (2w42V = 2 D= GSExercise2 x (15 marks) Find the derivative (dy/dx) of the following functions: \ (y= exp -x), i fy aa (y= n(35), ~ (ii) y = 5x4 ins? ‘Answer: Ik e ys i. CC) ee a UY ge CPL) eye lacy —| (oo | uy ee i ¥ ae 3) i a) i oO i | * aan > kb " FE (4 aii) uo ey 2 ee A -(20%° lax”) (set. ae 2x) ie Pe dy . 2 3 Her OK bax, to? C lox? (2alnx>41)Exercise 3 (15 marks) The demand for a commodity x is given by Ve Oy = 10¥-275P295P215, | 4 where Q; is quantity demanded for good x, Y is income, P, is the price of good x, Pz is the price of another good z. Calculate the own price, cross price, and income elasticities of quantity demanded. fnewer Q,-00r°™* | 35 ae Ch) AQ = Mn (104° pes po!) AGx= Oia Ope BQ = - 0-75 an 1OY +0 SS en ec on Oum PED = | um PED Siete = -1S => E2ose Creo! >1) Cross PED Gey = don = O'S => oe On ce == Am 8 66 Subsiode Goate 2) OTS => hadrtte Oo, Trefnor get Cx) So Treome C10) = dan _ Th