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Exam Pack 2016 practice and solutions. questions with answers
- Exam (elaborations) • 69 pages • 2021
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Exam Pack 2016 practice and solutions. questions with answers
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Tutorial letter 101/3/2018 Quantitative Modelling 1 DSC1520 Semesters 1 and 2
- Exam (elaborations) • 40 pages • 2021
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Question 1 
Find the slope of the line represented by the equation 
0 = 6 + 3x − 2y. 
[1] 2 
3 
[2] 3 
2 
[3] 3 
[4] 2 
[5] None of the above. 
Question 2 
Consider the demand function 
P = 100 − 5Q, 
with P being price and Q quantity. Find the price elasticity of demand when Q = 8. Is demand elastic or 
inelastic? Justify your answer. 
[1] εd = −1,5; demand is elastic; εd < −1 
[2] εd = −0,03; demand is inelastic; |εd| < 1 
[3] εd = −1,5; demand is elastic; |εd| > 0 
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