QMB 3003 - Final Exam
The demand curve is Q = 116 - 11P. At a price of $5 find the elasticity of demand. - Answer-
A line passes through the points (10, 21) and (29,52).
What is the slope of the line? - Answer-1.63
Which of the following best describes the second derivative? - Answer-The second derivative helps
determine the rate of change of the first derivative.
Consider the demand function for good Z as given by QDz = f(Pz, Y, Px) = 305 - 2Pz - 0.005Y + 3Px.
Find the following partial derivative:
fY(Pz, Y, Px) = - Answer-
When interest is compounded more than once per year then the effective interest rate is lower than the
annual interest rate. - Answer-False
A firm finds its sales increased from 2.25 million units to 2.87 million units last year. What was the
percentage change in sales? - Answer-27.56
, Suppose f(x) has a relative minimum at x = 100. At a value of 95 we can expect f'(x) to have a negative
value. - Answer-True
At the break-even quantity, which of the following is true? - Answer-Revenue=Cost
Which of the following cannot have a negative value? - Answer-Total Cost
What is the first derivative of f(x) = x/2? - Answer-1/2
Find the partial derivative of f(x,y) with respect to x and evaluate at x = 7 and y = 4.
Find fx(x,y) if f(x,y) = 4x2 + 5x2y + 12xy2. - Answer-
Elasticity of demand is calculated as percentage change in quantity demanded divided by percentage
change in price. - Answer-True
The profit (in thousands of dollars) from expenditure of x thousand dollars on advertising is given by P(x)
= 2,000 + 64x - 4x^2. The firm is presently spending $7,000 on advertising. Which of the following is
true? - Answer-The slope of the profit function is positive
The partial derivative of z = f(x,y) with respect to x is the rate of change of z with respect to x if y is held
constant. - Answer-True
Find the derivative of y = ln(4x + 7). - Answer-4/(4x + 7)
Find the amount that should be invested now to accumulate $43,342 at an annual interest rate of 7.13%
compounded annually for 14 years. - Answer-16,525.46
The demand curve is Q = 116 - 11P. At a price of $5 find the elasticity of demand. - Answer-
A line passes through the points (10, 21) and (29,52).
What is the slope of the line? - Answer-1.63
Which of the following best describes the second derivative? - Answer-The second derivative helps
determine the rate of change of the first derivative.
Consider the demand function for good Z as given by QDz = f(Pz, Y, Px) = 305 - 2Pz - 0.005Y + 3Px.
Find the following partial derivative:
fY(Pz, Y, Px) = - Answer-
When interest is compounded more than once per year then the effective interest rate is lower than the
annual interest rate. - Answer-False
A firm finds its sales increased from 2.25 million units to 2.87 million units last year. What was the
percentage change in sales? - Answer-27.56
, Suppose f(x) has a relative minimum at x = 100. At a value of 95 we can expect f'(x) to have a negative
value. - Answer-True
At the break-even quantity, which of the following is true? - Answer-Revenue=Cost
Which of the following cannot have a negative value? - Answer-Total Cost
What is the first derivative of f(x) = x/2? - Answer-1/2
Find the partial derivative of f(x,y) with respect to x and evaluate at x = 7 and y = 4.
Find fx(x,y) if f(x,y) = 4x2 + 5x2y + 12xy2. - Answer-
Elasticity of demand is calculated as percentage change in quantity demanded divided by percentage
change in price. - Answer-True
The profit (in thousands of dollars) from expenditure of x thousand dollars on advertising is given by P(x)
= 2,000 + 64x - 4x^2. The firm is presently spending $7,000 on advertising. Which of the following is
true? - Answer-The slope of the profit function is positive
The partial derivative of z = f(x,y) with respect to x is the rate of change of z with respect to x if y is held
constant. - Answer-True
Find the derivative of y = ln(4x + 7). - Answer-4/(4x + 7)
Find the amount that should be invested now to accumulate $43,342 at an annual interest rate of 7.13%
compounded annually for 14 years. - Answer-16,525.46
