THE COPPERBELT UNIVERSITY

SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 1

SET THEORY
1. Tell whether the given statements are true or false.
(a) {1,2,3}  {3,1,2} (b) {1,3}  {1,2,3}
(c) {2,4,8}  {2,4,6,8} (d) {6,7,9}  {1,6,9}
(e) {4,5}  {1,2,3,4}  {4}
2. Write each expression as a single set.
(a) {1,2,3}  {2,3,4,5} (b) {2,4,6,8}  {1,3,5,7}
(c) {a, b, e}  {d , e, f , q}
3. Find the number of elements in each set.
(a) {1,2,3} (b) {0,1,2,3,4,5,6,7,8}
(c) {5}
4. If U  Universal Set  {0,1,2,3,4,5,6,7,8,9} and if A  {0,1,5,7} , B  {2,3,5,8}
and C  {5,6,9} , find
(a) A B (b) B C
(c) A B (d) A B
(e) AB (f) A  B  A
(g) C  A  A  (h)  A  B  B  C 
5. Motors, Inc. manufactured 325 cars with automatic transmission, 216 with
power steering, and 89 with both these options. How many cars were
manufactured if every car has at least one option?

6. Suppose that out of 1500 first-year students at a certain college, 350 are taking
history, 300 are taking mathematics, and 270 are taking both history and
mathematics. How many first-year students are taking history or mathematics?

1
 7. Suppose the influence of religion and age on voting preference is given by the
following table:
Age
Below 35 35 to 54 Over 54
Catholics 82 158 111
voting Patriotic
Front
Catholics 42 33 15
voting United
Party for
National
Development
Protestants 27 33 7
voting United
Party for
National
Development
Protestants 44 47 33
voting Patriotic
Front

Find
(a) The number of voters who are Catholic or patriotic Front or both.
(b) The number of voters who are Catholic or over 54 or both.
(c) The number voting United Party for National Development below 35 or
over 54?
8. At a small college:
31 female seniors were on the dean’s list
62 women were on the dean’s list who were not seniors
45 male seniors were on the dean’s list
87 female seniors were not on the dean’s list
96 male seniors were not on the dean’s list
275 women were not senior and were not on the dean’s list
88 men were on the dean’s list who were not seniors
227 men were not seniors and were not on the dean’s list

(a) How many were seniors?

(b) How many were women?
(c) How many were on the dean’s list?
(d) How many were seniors on the dean’s list?
(e) How many were female seniors?
(f) How many were women on the dean’s lists?
(g) How many were students at the college?

2
 9. Of the cars sold during the month of July, 90 had air conditioning, 100 had
automatic transmissions, and 75 had power steering. Five cars had all three of these
extras. Twenty cars had none of these extras. Twenty cars had only air
conditioning, 60 cars had only automatic transmissions, and 30 cars had only
power steering. Ten cars had both automatic transmission and power steering,

(a) How many cars had both power steering and air conditioning?
(b) How many cars had both automatic transmission and air conditioning?
(c) How many cars had neither power steering nor automatic transmission?
(d) How many cars were sold in July?
(e) How many had automatic transmission or air conditioning or both?
10. List all the subsets of {a, b, c, d } . How many are there?

3
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 2

EQUATIONS, INEQUALITIES, FUNCTIONS AND GRAPHS

1. Perform the indicated operations and simplify

3
(a) x4

x 
2
2 3  x3 
(b)  2 
x4  
 x 3 

2. Completely factor the expressions

(a) x6 1

(b) x 2 y 2  4 xy  4

(c) 81x 4  y 4
3. Simplify and express your answer in a form free of radicals
2 2
(a)
2 3
1
(b)
x 5
1
(c)
1 2
4. Solve the equations
x 2 x  4
(a)  7
5 10
(b) 2x  3  8
(c) 3x  12  5x  32  4x  22
(d) x  x 1  1
1

 x  6 7
2
(e)

4
5. Find all the real roots by using the quadratic formula
(a) x 2  2 x  15  0
(b) p2  5p  3  0
(c) 2x 2  4x  5

6. Solve by any method

(a) 3 x4  x4
(b) y  2  2  2y  3

7. A chemist must prepare 350 ml of a chemical solution. It is to be made up of 2

parts alcohol and 3 parts acid. How much of each should be used?

8. The Chisha Company produces a product for which the variable cost per unit is
K6 and fixed cost is K80 000. Each unit has a selling price of K10. Determine the
number of units that must be sold for the company to earn a profit of K60 000.

9. A real estate firm owns the Kasumba Garden Apartments which consists of 90
apartments. At K350 per month every apartment can be rented. However, for each
K10 per month increase there will be two vacancies with no possibility of filling
them. The firm wants to receive K31 980 per month from rents. What rent should
be charged for each apartment?

10. Solve the inequalities. Give your answer in interval notation and indicate the
answer geometrically on the real number line.
y y y
(a)   y
2 3 5
(b) 23x  2  32 x  1
5 y  1 7 y  1
(c) 
3 2
11. For a company that manufactures chairs, the combined cost for labour and
material is K5 per chair. Fixed costs (costs incurred in a give time period
regardless of output) are K60 000. If the selling price of a chair is K7, how many
must be sold to make a profit?

12. A publishing Company finds that the cost of publishing each copy of a certain
magazine is K1.50. The revenue from dealers is K1.40 per copy. The advertising revenue
is 10% of the revenue received from dealers for copies sold beyond 10000. What is the
least number of copies which must be sold so as to have a profit for the company?

5
13. Solve the given equation or inequality
(a) 1  2x  1
3x  8
(b) 4
3
x 8
(c) 2
4

14. For the given function f and g , find the indicated function values
(a) f ( x)  x 20 g ( x)  x 2  7
1.  fg 5 2. g  f 2.25
5 2
(b) f ( x)  g ( x)  2
x3 x
1.  f  g 7.5 2.  f  g  4.15
1
15. Each equation defines a one –to one function f . Find the defining f .
(a) yx (b) x  2y  4
(c) 3x  4 y  12 (d) 3x  4 y  12

6
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 3

APPLICATION OF EQUATIONS AND FUNCTIONS

1. Suppose consumers will demand 40 units of a product when the price is K12 per
unit and 25 units when the price is K18 each. Find the demand equation assuming
that it is linear. Find the price per unit when 30 units are demanded.

5
2. Let P  q  50 be the supply equation for a manufacturer’s product and
100
7
suppose the demand equation is P   q  65 .
100
(a) If a tax of K1.50 per unit is imposed on the manufacturer, how will
the original equilibrium price be affected if the demand remains the same?
(b) Determine the total revenue obtained by the manufacturer at the
equilibrium point both before and after the tax.

3. Given that G  20 , I  35 , C  0.8Yd  25, T  0.2Y  10 , calculate the equilibrium

level of national income correct to 2 decimals.

4. Determine the equilibrium income and interest rate given the following information
about the commodity market.

C  0.8Y  185
I  30r  1200

and the money market

M S  1500
L1  0.3Y
L2  35r  2300

What effect would a decrease in the money supply have on the equilibrium levels of
Y and r ?

5. Given the following demand supply functions for two interdependent commodities,
what are the equilibrium prices and quantities?

7
 7
p  12  q
100 65q  p  537.5  0
i. ii
1 35q  2 p  250  0
p q2
100
6. An open economy is in equilibrium when Y  C  I  G  X  M where
Y  national income, C  consumption, I  investment, G  government
expenditure, X  exports, M  imports,

Determine the equilibrium level of income given that

C  0.5Y  70 , I  65 , G  120 , X  120, M  0.3Y  40 .

7.
(a) Why is the price elasticity of demand negative?
(b) When the price of a good is K 6, the price elasticity of demand is -0.8.
Calculate the percentage change in demand Q when
(i) The price increases by 4%.
(ii) The price decreases by 6%.

8. For the demand functions, (i) P  a  bQ , (ii) Q  c  dP

(a) Drive expressions for the price elasticity of demand in terms of Q only.
(b) Calculate the value of  d when the calculators are priced at p  K2.50,
K3.00, and K3. 50

(i) Q  24  2 P (ii) P  2.4  0.5Q

9. A consumer has a given income M = K600 which is spent on two goods x and y .
The prices of these goods are Px = K12, and Py = K15 respectively.

(a) Deduce the equation of the budget constraint and explain each component
of the equation.

(b) Graph the consumer’s budget constraint.

10. Deduce the equation of the following lines given slope and/or a point(s):

(a) slope  2, y  int ercept  0 (b). slope 

1
, 4,8
2

8
 (c) 6,4,  2,5

11. The demand and supply functions for a product (helicopter rides) are given by

Demand function: Q  5 P  290

Supply function: Q  10P  40

a. Calculate the equilibrium price and quantity. Plot the demand and supply
functions in the form P  g Q . Illustrate graphically the consumer and
producer surplus at equilibrium.
b. Calculate the consumer surplus at equilibrium.
c. Calculate the producer surplus at equilibrium.
d. Calculate the total surplus at equilibrium.
e. If a tax of K15 per unit is imposed: find
(i) the equilibrium point
(ii) show the distribution of tax

12. Assuming that the new level of national income is K600m, calculate the new level
of national income when b  0.8 and I  K 400m
13. Given the demand and supply functions, 2 P  100  3Q and 2Q  22  P
respectively

(a) Find the equilibrium point (i) graphically, (ii) algebraically

(b) If a tax of 17.05 per unit is imposed calculate,

(i) The equilibrium point,

(ii) The distribution of tax. Show the distribution of tax graphically.

100
14. Suppose consumers will purchase q units of a product at a price of p +1
q
Kwacha per unit. What is the minimum number of units that must be sold in
order that sales revenue is greater than K5, 000?

9
15. Sketch the graph of the following demand relations, where p denotes the price
per unit and q is the quantity demanded.

3000
(a) p  20  q (b) P
q  200
(c ) p  388  16q  q 2 (d) p  200  2q 2

16. Solve the following simultaneous equations

x  3y  4z  5 3x  2 y  2 z  5
(a) 2x  y  z  3 (b) 4 x  3 y  3z  17
4 x  3 y  5z  1 2 x  y  z  1

x  3 y  z  2 2 x  3 y  z  13
(c) x  y  2z  4 (d) x  2 y  2 z  3
 2 x  y  z  12 3x  y  z  10

2
17. The demand law for a certain commodity is p  x  40 and the supply law for a
5
certain commodity is 3 p  4 x  30 .
(a) Find the equilibrium price and quantity.
(b) Find the equilibrium price and quantity after a tax of 6 per unit is imposed.
(c) Find the contribution in tax paid by the consumer and supplier.
(d ) What subsidy will cause the quantity demanded to increase by 2 units?

18. Sketch the graphs of the following functions:

5 if x  0 3 if x  0
(a) f ( x)   (b) 
 3 if x  0 3x  1 if x  0

 x  5 if x  3
(c) f ( x)  
 x  2 if x  3

19. Sketch the following parabolas and determine their vertices:

(a) y  x 2  2x  1 (b) y  9  8 x  2 x 2
(c) y  1 x  x2 (d) y  x 2  8 x  13

20. The demand and supply functions for three interdependent commodities are
Qd 1  15  P1  2 P2  P3

10
 Qd 2  9  P1  P2  P3
Qd 3  8  2 P1  P2  4 P3
Qs1  7  P1
Qs 2  4  4 P1
Qs 3  5  2 P3

11
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS ASSIGNMENT 4

NON-LINEAR FUNCTIONS AND LINEAR PROGRAMMING

1. Solve the following given non-linear equations and system.

1 2 y  x3 , p 2  q  0,
(i)  8 (ii) (iii)
Q Q x  y  0. 3q  2 p  1  0.

x2
y  1,
x 1  25
(iv) (v) 4
1 Q5
y .
x 1

2. The demand and supply functions for a brand of tennis shoes are

50
Pd  , PS  10  2Q
Q2

Note that P is the price per pair, and Q is the quantity in thousands of pairs.

(a) Calculate the equilibrium price and quantity.

(b) Graph the supply and demand functions; hence confirm your answer
graphically.
3. Solve the following equations:

(a) 25 x  2  53 x4

2
(b) log 2 x  3 log 2 2  log 2
x

(c) e ln( x  4 )  7

(d) log2 x  log4 x  3

(e) log4 2 x  4  3  log4 3

12
4. During a recession a firm’s revenue declines continuously so that the revenue,
TR , (measured in million of kwachas) in t years time is modelled by
TR  10e 0.25t

(a) Calculate the current revenue and also the revenue in three years?

(b) After how many years will the revenue decline to K1.75 million?

5. The percentage of households possessing plasma television sets t years after they
have been launched is modelled by

50
P
1  900e 0.4t

(a) Find the percentage of households that have plasma television sets at their
launch?
(b) Find the percentage of households that have plasma television sets after 10
years?
(c) What is the market saturation level?
(d) Sketch a graph of P against t and hence give a qualitative description of
the growth of plasma television set ownership over the time.

6. After t years the number of units, q , of a product sold per year is given by
0.8t
1
q  1000  . Such an equation is called a Gompertz equation and describes
2
natural growth in many areas of study. Solve for t and show that
3  log q
Log
log 2
t .
3 log 2  1

13
7. A company can use types of machine A and B, in a manufacturing plant. The
number of operators required and the running cost per day are given as

Cost per day Available Floor area m 2  Profit per

operators machine
Machine A 6 2 2 20
Machine B 3 4 2 30
Maximum 360 280 160
available

(a) Write down the inequality constraint and profit function.

(b) Graph the inequalities. From the graph determine the number of machines
A and B which should be used to maximize profits.
(c) Confirm your answer in (b) algebraically.
8. Maximize
Z  0. 5 x  0 . 3 y
Subject to
x  y  2 ,
2x  y  4 ,
2x  y  8 ,
x, y  0 .
9. Minimize
Z  7x  3y
Subject to
3 x  y  2 ,
x  y  9,
x  y  1 ,
x, y  0 .
10. Maximize
Z  4 x  10 y
Subject to
x  4y  4 ,
2x  y  2 ,
x, y  0 .

14
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 5

MATRICES

1 2 3 1 1 
 1  6 2
1. Given the matrices A   , B  4 5 6 , C  2 2
 4 2 1  7 8 9  3 3

Determine each of the following, if possible:

(a) A+C (b) BT+C (c) BC (d) ATBT (e) BTAT

2. A fast food chain has three shops, A, B and C. The average daily sales and profit in
each shop is given in the following table:

Units Sold Units Profit

Shop A Shop B Shop C Shop A Shop B Shop C
900 600 700 1500 2500 3000
Burgers
Chips 2000 800 900 3500 2500 4000
Drinks 700 1400 2000 2500 3500 2500

Use matrix multiplication to determine

(a) The profit for each product;

(b) The profit for each shop.

3. Solve the following system by Cramer’s rule.

2 x  y  z  0,
4 x  3 y  2 z  2,
2 x  y  3z  0.

15
4. Determine the equilibrium prices of three interdependent commodities which satisfy

2 P1  4 P2  P3  77,
4 P1  3P2  7 P3  114,
2 P1  P2  3P3  48.

Use Cramer’s rule.

5. (a) State Cramer’s rule.

Show graphically how a system of two equations in two unknown has:

(i) no solution, (ii) a unique solution, (iii) infinitely many solutions.

Is it possible to solve all three solutions above by Cramer’s rule?

(b) Use Cramer’s rule to solve for x1 , x 2 and x3 .

4 x1  x 2  3 x3  8
 2 x1  5 x 2  x3  4
3 x1  2 x 2  4 x3  9

6. Given the matrix of technical coefficient and the matrix of final demand (other
demand), B for industries 1,2,and 3,

 0 .5 0 .1 0  125
A  0.2 0.5 0.2 , B  250
 0.1 0.4 0.6 710

(a) Determine ( I  A) 1 .
(b) Calculate the total output required from each sector.

16
7. Given the inter-industrial transaction table for two industries,

Input to X Input to Y Final Demand

200 500 500
Output from X
Output from Y 400 200 900

(a) Write down the matrix of technical coefficients.

(b) Calculate the total output required from each industry if the final demands
from X and Y change to 650 and 1500 units respectively.

(c) Find the total value of the other production costs that this involves.
8. In problems 3, 4 and 5(b) solve the system by the
(a) Inverse method
(b) Reduction method.

9. For each of the problems (a) to (d), if the coefficient matrix of the system is
invertible, solve the system by using the inverse. If not, solve the system by the
method of reduction.

x  y  z  2, 2x  8 z  8,
(a) x  y  z  1, (b)  x  4y  36,
x  y  z  0. 2x  y  9.

w x  z  2,
x  3 y  3z  7,
w y  0,
(c) 2 x  y  z  4, (d)
x  y  z  4,
x  y  z  4.
y  z  1.
10. Use Cramer’s rule to solve the following system for:
2 x  3 y  z  2,
x  6 y  3z  2,
3x  3 y  2 z  2.

17
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 6

MATHEMATICS OF FINANCE
In problems 1 to 3, find the present value of the given (ordinary) annuity.

1. K4 500 every 6 months for 4 years at the rate of 6% compounded semi-annually.

2. K8 000 per month for 15 months at the rate of 12% compounded monthly.

3. K1 800 per year for 6 years at the rate of 15% compounded annually.

4. A debt of K3000, which is due 6 years from now, is instead to be paid off by three
instalments: K500 now, K1500 in three years, and a final payment at the end of 5
years. What would this payment be if an interest rate of 6% compounded annually
is assumed?

5. Suppose that you can invest K25 000 in a business venture that guarantees you cash
flow at the end of years 2, 3, and 5, as indicated in the table below:

Year Cash Flow

2 K12 000
3 9 000
5 7 000

Assume an interest rate of 7% compounded annually and find the net present value of the
cash flow.

6. A person saves K100 in a bank account at the beginning of each month. The bank
offers a return of 15% compounded monthly.

(a) Determine the total amount saved after 12 months.

(b) After how many months does the amount saved first exceed K2500?

7. Construct a schedule for the amortization of:

(a) A debt of K14 000 with interest at 18% by 5 equal annual payments.

18
 (b) A debt of K21 000 with interest at 12% compounded semi-annually by
making 6 equal semi annual payments.

8. Project A requires an initial outlay of K2 000 but will return K4 000 at the end of
each of years 2, 3 and 4 whereas project B requires an initial outlay of K1 400 but
will return K3 500 at the end of years 1, 2, 3 and 4.

(i) Calculate the NPV of each project if the discount rate is 5% compounded
annually. On the basis of this, which project would you invest in?

(ii) Estimate the IRR for each of these projects. On the basis of the IRR which
project would you prefer?

9. A project requiring an initial outlay of K15 000 is guaranteed to produce a return of

K20000 in three years` time. Use the
(a) net present value
(b) internal rate of return
To decide whether this is worthwhile if the capital could be invested
elsewhere at 15 % compounded annually.

10. A firm needs to choose between two projects A and B. Project A involves an initial
outlay of K13 500 and yields K18 000 in two years` time. Project B requires an
outlay of K9 000 and yields K13 000 after two years. Which of these projects
would you advise the firm to invest in if the annual market rate is 8%?

19
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 7

CALCULUS

LIMITS AND CONTINUITY

1. Find the following limits (if they exist)

4x  3 x2 1
(a) Lim (b) Lim
x 9 11 x 1 x 1

x 3  x 2  5x  3 x2 2
(c) Lim (d) Lim
x 1 x3  2x 2  7x  4 x 6 x6

2x
(e) Lim
x  3x  x  4
6

 2  x , if x  2
2. If f ( x)   3 determine the value of the constant k for which
 x  k x  1, if x  2
lim f ( x ) exists.
x2

3. Determine whether the function is continuous at the given points.

x4 x 2  4x  4
(a) f x   ;  2,0 (b) f ( x)  ; 2,2
x2 6

 x  2, if x  2
(c) f ( x)   2 ; 2,0
 x , if x  2
  100x  600, if 0  x  5,

(d) Sketch the graph of y  f ( x)   100x  1100, if 5  x  10,
  100  1600, if 10  x  15.

A function such as this might describe the inventory y of a company at time x .
1. is f continuous at 2?
2. is f continuous at 5?
3. is f continuous at 10?

20
 3. For a particular host –parasite relationship, it was determined that when host
density (number of hosts per unit of area) is x , then the number of hosts
1800
parasitized over a period of time is y , where y  .
20  90 x

If the host density were to increase without bound, what value would
y approach?
4. What annual rate compounded continuously is equivalent to an effective rate
of 5%?
5. Find the limit(if it exists),
Lim9 x 3  5 x  7 
x 
6. Find the limit(if it exists),
x5  7x
Lim
x  6  4 x

7. Find the limit(if it exists)

x3  1
Lim
x  8  5 x  9 x 2

8. Find the limit(if it exists),

Lim 5  2 x
x 

9. Find the limit(if it exists),

5
Lim .
x    x  6 5

10. Find the point of discontinuity (if any) for each function

x2
f x  
0
(a) (b) f ( x) 
x5 x5

4  x2 2x  5
(c) f ( x)  (d) f ( x) 
x 2  3x  4 x3  x2

 x  4, if x  2
(d) f ( x)  
3 x  6, if x  2

21
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 8

CALCULUS
Rules of differentiation and its application

11. From the first principles, find the derivative of the following functions:
(a) y  5 x 2  16x  8
8x 2  9
(b) y
x7
x2 1
(c) y
x 1
(d) y x2  x  5

1. Differentiate each of the following, giving your answer with positive indices only.

(a) y  5x 4 (b) f ( x)  5 x  8
7x2  x
(c) f ( x)  (d)  
y  x 2  3x  2 2 x 2  x  3 
2 x
(e)
 
3
y  50  (f) f ( x)  x 2 x 2  7 
7

z4  4 ax
(g) f ( z)  (h) f ( x)  , where a is
3z ax
constant
8x 2  3
4
 2x 
(i) y (j) y 
x2  2  x  2
 x2 
(k) f x   ln  (l) y  x 2 ln x
1 x
2

(m) 
y  x 2  log2 x 2  4  (n) y  e2x
2
5

(o) y  e 2 x x  1 (p) y  5x x3

22
 dy
2. Find by implicit differentiation.
dx
(a) x2  y2  9 (b) xe y  y  4
(c) lnxy  x  4 (d) x  xy  y 2  7
(e) x3 y3  x  9

3. Find y  by using logarithmic differentiation

x2  7
(a)
2

y   x  1  x  1 x 2  5  (b) y
x8
(c) y  e x x 3x
Find an equation of the tangent line to y  x  1x  2 x  3 at the
2 2
4. (a)
point where x  0 .
Find the slope of the curve x 3   y  x 2  at (1,2)
2
(b)

5. An important function used in the social sciences is the normal distribution

density function

1  x 
2

1   
2  
y  f ( x)  e
 2
where  (a Greek letter read “sigma”) and  ) a Greek letter read”mu”) are
constants. Its graph, called the normal curve is symmetrical at   0 . Determine
the rate of change of y with respect to x when x   .
6. A manufacturer determines that m employees will produce a total of q units of a
10m 2
product per day, where q if the demand equation for the
m 2  19
product is P  900q  9 , determine, the marginal revenue when m  9 .

7. If the consumption function is given by

C

52 I 3 
I  10
Determine the marginal propensity to consume and the marginal propensity to
save when I  100 .
5000
8. If a manufacturer’s average cost equation is C  0.0001q 2  0.02q  5  ,
q
find the marginal cost function. What is the marginal cost when 50 units are
produced?

23
9. Let f ( x)  x 2  1e  x
(a) Determine the value of x at which relative maximum and minimum, if any
occur.
(b) Determine the interval (s) on which the graph of f is concave down and
find the coordinates of all points of inflection.

10. In a model for the market penetration of a new product, sales S of the product at
time t are given by,
 
2  
m p  q   e   p  q t
,
S  g (t ) 
p   q  p  q t 
  e  1 
  p  
where p , q , and m are nonzero constants.
(a) show that
m
 p  q 3 e  p  q t  q e  p  q t  1
ds p
 p 
3
dt  q  p  q t 
 e  1
p 
(b) Determine the value of t for which maximum sales occur. You may
assume that S attains a maximum when ds dt  0 .

24
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 9

MULTI VARIABLE CALCULUS

1. Find the partial derivatives of the function with respect to each of the variable.

(a) f x, y   4 x 2  3 y 2  6 (b) f ( x, y )  x 2 y 2  2 x 2 y  3xy  4 y

x 2  3 xy  y 2
(c) f ( x, y )  (d) Ql , k   3l 0.21k 0,79
x y
2 2

Q Q
2. If Q  L0.41 K 0.59 , show that Q  L K
L K

3. The production function for the Zambia manufacturing industries for 1960 is
estimated by P  34.0l 0.48 k 0.50 , where P is product, l is labour and k is capital. Find
the marginal productivities for labour and capital when l  1 and k  1 .

4. In questions (a) – (d), find the approximate percentage change which results from
the indicated changes in the other variables.

(a) Q  L0.4 K 0.6 , L and K both decreases by 5%.

(b) V  10xy, x and y both decreases by 2%.

(c) TR  100P 0.6 A1.2 , P , increases by 3% and A decreases by 2%.

(d) TR  25P 0.5 A1.5 Q 0.2 , P , A and Q increases by 2%.

5. A manager proposes that a firm increases capital by 6% and decreases labour by

4%. If the firm’s production function is Q  80L0.5 K 0.9 , use partial differentiation to
find the approximate change in out, Q .

25
6. A firm has a production function Q  10L0.5 K 0.5

(a) Derive expressions for MPL and MPK .

Q Q
(b) Prove that Q  L K
L K

7. A consumer has a utility function V  30x 0.3 y 0.5 , where x the number of cups of
tea is consumed; y is the number of glasses of brandy.

(a) Derive expressions for V x and V y .

v v
(b) Prove that V  x y .
x y

8. Determine whether each of the following production functions have increasing,

decreasing or constant returns to scale.

(a) Q  10K 0.2 L0.8 (b) Q  10K 0.3 L0.9

(c) Q  10K 0.2 L0.4

9. Find and classify the stationary points for the functions given in questions (a) to (f).

(a) f ( x, y)  2 x 2  y 2  2 xy  5 x  3 y  1
(b) f ( x, y)  x 3  x 3  xy 2

(c) f ( x, y)  y 2  x 2

f ( x, y)  x 4  x  y 
4
(d)

10. Let P be a production function given by

P  f (k , l )  0.54l 2  0.02l 3  1.8k 2  0.09k 3 ,
where l and k are the amounts of labour and capital, respectively, and P is the
quantity of output produced. Find the values of l and k that maximizes P .

26
11. The total cost and demand functions for two goods are given by the equations

TC  10  4 x  y, Px  8  2 x; PY  20  0.5 y

where x is the number of units of the first good, y is the number of units of the
second good.

(a) Write down the equations for (i) total revenue and (ii) profit.

(b) Determine the number of units of each good which should be sold to
maximise revenue. Calculate the maximum revenue.

(c) Determine the number of units of each good which should be bought and
sold to maximise profits. Calculate the maximum profit.

(d) Calculate the price elasticity of demand at maximum revenue and

maximum profit for each good. Comment.

12. A monopolist can charge different prices in each of the two markets whose demand
and total cost functions are given as:

PX  80  2.5x PY  125 10 y TC  200  5( x  y )

(a) Calculate the maximum profit with price discrimination.

(b) Calculate the maximum profit with no price discrimination.
(c) Calculate the price elasticity of demand in each market when profits are
maximised with price discrimination.
13. Find the values of x and y for which the utility function V  x 0.2 y 0.8 is maximised
subject to the budget constraint, 180  4 x  2 y (assume second-order conditions
are satisfied).
14. A firm has a production function Q  15L0.2 K 0.6 , where L and K are the number
of units of labour and capital. Find the maximum level of production, subject to the
constraint K  4L  20 .
15. A firm’s production is Q  50L0.6 K 0.4 , subject to the cost
constraint 8L  4K  400 .

(a) Deduce the price of a unit of labour and capital from the constraint
equation.
(b) Determine the levels of L and K at which production is maximised.
(c) Show that MPL MPK  PL PK when production is maximised.

27
 THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS

BS/BSP/BF/BEC 140: MATHEMATICAL ANALYSIS – ASSIGNMENT 10

INTEGRATION

1. Evaluate the following indefinite integrals:

 x3 3 
 6 x dx   3  x 3 dx
8
(a) (b)

 x x  3
 3x 2  8 dx (d)  3x  13 dx
4 3
(c)

1 3x 2  2 x
(e)  x2
dx (f)  1  x 2  x 3 dx

x3  x2  x  3
6  x 2  3 dx
x
(g) dx (h)

2
 xLn2 x dx y
3
(i) 2
(j) ln ydy

x 1
 3  2
 e x dx  x dx
x
(k) (l)

3x 3  3x  4 dx
(m)  4 x  4 dx (n) x 2
 5x  6

2x 4  9x 2  8
(o)  xx 2
2 2
dx

2. Evaluate the definite integral

3 2

 6dx x 7 x 3  1dx
23
(a) (b)
0 0

1  3 
2
2 x 
0   xe
x
(c) dx (d) dx

x  1 3 
2
 0

28
 2  2x
1
(e) x
0
2
 7 x  12
dx

3. In the manufacture of a product, fixed costs per week are K4000. Fixed costs are
costs, such as rent and insurance that remain constant at all levels of production in a
given period. If the marginal cost function dc is
dq

 0.000001q 2  25q   0.2

dc
dq
where c is the total cost (in Kwachas) of producing q kilograms of a product per
week. Find the cost of producing 10 000 Kg in a week.

4. For a certain country, the marginal propensity to consume is given by

dC 3 5
  ,
dI 4 2 3I
where consumption C is a function of national income I . Here I is expressed in
billions of slugs (50 slugs  K 0.01 ). Determine the consumption function for the
country if it is known that consumption is 10 billion slugs ( C  10 ) when I  12.

50q
5. The demand function for a product is P  60  , and the supply
q 2  3600
equation is p  10 lnq  25  27 .

Find the consumers` surplus and producers` surplus under market

equilibrium, rounding your answers to the nearest integer.

6. The Supply function for a particular product is given by:

Q
P 5
60

and its demand function is

Q  400  P 2

(a) Construct a graph showing the Supply and demand function.

(b) Assuming pure competition determine the producers’ surplus and the
Consumer’s surplus.

(c) What is the price elasticity of demand at the point of equilibrium?

29
 7. The present value (in Kwachas) of a continuous flow of income of K2000 a year
for 6 years at 5% compounded continuously is given by

 2000e
 0.05t
dt
0
Evaluate the present value to the nearest kwacha.
8. A manufacturer’s marginal cost function is
dc
 0 .2 q  3
dq
if c is in kwachas, determine the cost involved to increase production
from 60 to 70 units.

9. Find the area of the region bounded by the curve y 2  4 x and the lines y  3
and x  0 (the y -axis).
10. Find the area of the region bounded by the curves y  4 x  x 2  8
and y  x 2  2 x .

30