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Math For Economics Assignment - 1

Math for Economics

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geraldayh98
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0% found this document useful (0 votes)
33 views

Math For Economics Assignment - 1

Math for Economics

Uploaded by

geraldayh98
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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ECON 104 G4 Assignment 1 (Deadline 8:00 am September 7)

1. Let A = {1, 3, 4}, B = {1, 4, 6}, C = {2, 4, 3}, and D = {1, 5}. Find the following
A ∩ B; A ∪ B; A\B; B\A; (A ∪ B)\(A ∩ B); A ∪ B ∪ C ∪ D; A ∩ B ∩ C; and
A∩B∩C ∩D

2. Let the universal set be Ω = {1, 2, 3, 4, . . . , 11}, and define A = {1, 4, 6} and
B = {2, 11}. Find A ∩ B; A ∪ B; Ω\B; Ac .

3. Determine which of the following formulas are true. If any formula is false, find a
counter example to demonstrate this, using a Venn diagram if you find it helpful.
a. A\B = B\A
b. A ∩ (B ∪ C) ⊆ (A ∩ B) ∪ C
c. A ∪ (B ∩ C) ⊆ (A ∪ B) ∩ C
d. A\(B\C) = (A\B)\C

4. Determine which of the following formulas are true. If any formula is false, find a
counter example to demonstrate this, using a Venn diagram if you find it helpful.
a. A ⊆ B ⇔ A ∪ B = B
b. A ⊆ B ⇔ A ∩ B = A
c. A ∩ B = A ∩ C ⇒ B = C
d. A ∪ B = A ∪ C ⇒ B = C
e. A = B ⇔ (x ∈ A ⇔ x ∈ B)

5. Consider the proposition 2x + 5 ≥ 13.


a. Is the condition x ≥ 0 necessary, or sufficient, or both necessary and sufficient for
the inequality to be satisfied?
b. Answer the same question when x ≥ 0 is replaced by x ≥ 50.
c. Answer the same question when x ≥ 0 is replaced by x ≥ 4

6. Show that [f (x + h) − f (x)]/h = −1/x(x + h), and use this to show that
1 1
f (x) = = x−1 ⇒ f 0 (x) = − 2 = −x−2
x x

1
7. Let f (x) = ax2 + bx + c
a. Show that [f (x + h) − f (x)]/h = 2ax + b + ah. Use this to show that f 0 (x) = 2ax + b
b. For what value of x is f 0 (x) = 0?


8. Let f (x) = x
√ √ √ √
a. Show that ( x + h − x)( x + h + x) = h

b. Use the result in part (a) to show that the Newton quotient of f (x) is 1/( x + h +

x).
c. Use the result in part (b) to show that for x > 0 one has f 0 (x) = 1

2 x
= 21 x−1/2

9. Let f (x) = ax3 + bx2 + cx + d


f (x+h)−f (x)
a. Show that h
= 3ax2 + 2bx + c + 3axh + ah2 + bh for h 6= 0,
6. Find f 0 (x)

10. Show algebraically that f (x) = x3 is strictly increasing by studying the sign of
" 2 #
1 3
x32 − x31 = (x2 − x1 ) x21 + x1 x2 + x2 = (x2 − x1 )
2
+ x22

x1 + x2
2 4

11. Determine the following by using the rules for limits:


a. limx→0 (3 + 2x2 )
3+2x
b. limx→−1 x−1
2 3
c. limx→2 (2x + 5)
d. limt→8 5t + t2 − 18 t3

(y+1)5 −y 5
e. limy→0 y+1
1/z+2
f. limz→−2 z

12. Use the chain rule to find dy/dx for the following:
a. y = 5u4 , where u = 1 + x2
b. y = u − u6 , where u = 1 + 1/x

13. Suppose that the two functions U and g are both increasing and concave, with
U 0 ≥ 0, U 00 ≤ 0 , g 0 ≥ 0, and g 00 ≤ 0. Prove that the composite function f (x) = g(U (x))
is also increasing and concave.

2

14. Let U (x) = x and g(u) = u3 . Then f (x) = g(U (x)) = x3/2 , which is not a concave
function. Why does this not contradict the conclusion in the previous question.

15. Compute all the derivatives up to and including order 4 of f (x) = 3x−1 + 6x3 − x2 ,
where x 6= 0

16. Find the intervals where the following functions are increasing:
a. y = x2 /e2x
b. y = ex − e3x
e2x
c. y = x+2

17. Find the intervals where the following functions are increasing:
a. y = x2 ln x
b. y = 4x − 5 ln (x2 + 1)
c. y = 3 ln(1 + x) + x − 12 x2

18. Use logarithmic differentiation to find f 0 (x)/f (x) when:


a. f (x) = x2x

b. f (x) = x − 2 (x2 + 1) (x4 + 6)
1/3
c. f (x) = x+1
x−1

19. Suppose that f and g are twice differentiable functions which are inverses of each
other. By differentiating g 0 (f (x)) = 1/f 0 (x) w.rt. x, find an expression for g 00 (f (x))
where f 0 (x) 6= 0. Do f 00 and g 00 have the same, or opposite signs?

20. Consider log-linear function ln Q = a − b ln P .


a. Express Q as a function of P , and show that dQ/dP = −bQ/P .
b. Express P as a function of Q, and find dP/dQ.

21. Show that ln(1 + x) ≈ x for x close to 0.

22. Find an approximate value for (1.001)50

23. Let p, q, and r be constants. Find the following differentials:

3
a. d (10x3 )
b. d (5x3 − 5x2 + 5x + 5)
c. d (1/x3 )
d. d(ln x)
e. d (xp + xq )
f. d (xp xq )
g · d(px + q)r
h. d (epx + eqx )


24. Find the third-order Taylor approximation to f (x) = 1 + x about x = 0.

25. For any natural number n, write the n -th-order Taylor approximation to f (x) = ex
about x = 0

26. For 
what value of a is the following function continuous for all x?
 ax − 1 for x ≤ 1
f (x) =
 3x2 + 1 for x > 1

27. Prove that the equation, 2x − 5e−x (1 + x2 ) = 0, has a unique solution, which lies
in the interval (0, 2).

28. Find the domains of the functions defined by the following formulas:
a. 1/ (ex+y − 3)
b. ln(x − a)2 + ln(y − b)2
c. 2 ln(x − a) + 2 ln(y − b)

29. Find f10 (x, y), f20 (x, y), and f12
00
(x, y) for the following functions:
a. f (x, y) = x7 − y 7
b. f (x, y) = x5 ln y
5
c. f (x, y) = (x2 − 2y 2 )

30. Let z = 21 ln (x2 + y 2 ) . Show that ∂ 2 z/∂x2 + ∂ 2 z/∂y 2 = 0

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