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Eco (H) Semester-I

Mathematical Methods for Economics-I

Instructions:

Maximum Marks: 75

1.
2.

All Questions are to be attempted:

Use of simple Calculator is permitted.

1.

(a)

(i)
(b)

(i)
(ii)

2
1, x 4
x4

Find the restrictions on a, b and c for which

ax 2 bx c 0 , for all x.

f x
(c)

(ii)

2
3
x

log 10 1 x

x 2

(i)

Is the condition x 0 necessary, or both necessary and sufficient

for the proposition to be satisfied?

(ii)

(3.5,3.5)

2.

(a)

Find the limit of the following:

(i)

(ii)

10x 2x 5x 1
lim
x0
x2

x2 5
x 3 x 2 2

lim

x 1 3
(b)

Find the vertical, horizontal and oblique (if any) asymptote of the

(c)

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x2

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(i)

(d)

x if x is rational

0 if x is irrational

(i)
(e)

2x 2 3x 1
f x 2
3x 4x 1
(ii)

f x

the series

2 n 1

(ii)

n 1

sn

the sequence

1
2n

(4,4,4,4)
3.

(a)

Prove that if the graph of

y f x

ax b
cx a is symmetric about the line y =

x, it must be true that a bc 0 .

2

(b)
(c)

ex ex
y
2
Sketch a graph of
by examining its first-order and second-

order derivatives.
Prove that:

(i)

(ii)
(d)

E 1x f g

fE 1x f gE 1x g
fg

y
ln xy
If x
find the elasticity of y with respect to x .

(i)
4.

n 1 n

1
2
n 1 n

(ii)

(5,5,5)

(a)

(i)

Given that an economys income, consumption and population

growth rates are 5%, 0.5% and 1.5% respectively, when income Y
= Rs. 10,000 crores and consumption C = Rs. 8,000 crores, find
the rate of growth of per capita savings, where total savings S = Y

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C and population P = 10,00,000. Per capita savings PCS = total

savings S/total population P.
(ii)

2
Verify that for the curve y px qx r p, q, r ; p 0 , the chord

joining the points for which x = a and x = b is parallel to the

tangent at the point

(b)

1
a b
2
.

A wine dealer inherits a case of fine wine (with zero acquisition cost)
whose value at any given time is given by :

V t e t , with 0
(i)

Show that the value of the case of wine grows over time.

(ii)

Show that even though the rate of growth of the value of wine
is positive, it declines over time.

(iii)

If there are no storage costs, calculate the time t* when wine

should be sold in order to maximize profits (Profits = Value of the
case of wine Costs). Assume a continuous discount rate = 10%
and = 1,000.

(iv)

rv

10,000, would if be worthwhile to hold the case until t*?

(c)

(i)

2
Suppose demand (q) is given by q p 100 4p 0.5p , p 4 , and

demand is to be approximated by a linear function. If p = 8, what

is the linear approximation that you would use? Sketch a graph of
both q(p) and its linear approximation. Where, on the graph, do
you see the best fit?
(ii)

Examine for concavity/convexity the function:

f x

1 6 1 4
x x 10
30
3
. Also find the point(s) of inflection, if any.
(7.5,7.5)

5.

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(a)

dp
dt and sign of

dp
.
dt

(i)

Find

(ii)

Compute the tax revenue T as a function of t . For what

value of t does the quadratic function T reach maximum.

(b)

Find the equations of two lines through the origin that are tangent to
the curve:

(c)

x 2 4x y 2 3 0

c q q 2 . What restriction(s) must be placed on for a profit-maximizing

solution to exist? Given the restriction(s) on , what is the profitmaximizing output?

(d)

Suppose that a function f(x) is convex. What restriction on the

parameters a and b will guarantee that g(x) = af(x) + b is also convex
if;
(i)

(ii)

6.

(5,5,5)

(a)

Yt 3 Yt 1 8 0

(i)

(ii)

and

Y0 16

OR

Q dt 86 0.8 Pt ,

Q st 10 0.2 Pt 1
(i)

(ii)

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(b)

2
Find the area of the region between the curve y 2x x , 0 x 3 and the

x-axis.
OR
Calculate:
(i)

1/3

x2

(ii)

2
d
e u du

dx x

(3.5,3.5)
**********

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