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  • MaBE 2017 S02

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    Artem Petrenko
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    The document contains 3 exercises from a seminar on mathematics for business and economics: 1) Find the equilibrium price and quantity for a demand function of D(P) = 9 - P^2 and supply function of S(P) = 5P - 5 by plotting them on a graph. 2) Find the economic domains for 3 demand functions: a) Q(P) = -P^3 + 3P^2 - 3P + 9, b) Q(P) = P^2 - 4/1, c) Q(P) = ln(P-1). 3) Estimate the change in a company's total costs function of TC(Q) = 3Q

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    The document contains 3 exercises from a seminar on mathematics for business and economics: 1) Find the equilibrium price and quantity for a demand function of D(P) = 9 - P^2 and supply function of S(P) = 5P - 5 by plotting them on a graph. 2) Find the economic domains for 3 demand functions: a) Q(P) = -P^3 + 3P^2 - 3P + 9, b) Q(P) = P^2 - 4/1, c) Q(P) = ln(P-1). 3) Estimate the change in a company's total costs function of TC(Q) = 3Q

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views1 page

    MaBE 2017 S02

    Uploaded by

    Artem Petrenko
    The document contains 3 exercises from a seminar on mathematics for business and economics: 1) Find the equilibrium price and quantity for a demand function of D(P) = 9 - P^2 and supply function of S(P) = 5P - 5 by plotting them on a graph. 2) Find the economic domains for 3 demand functions: a) Q(P) = -P^3 + 3P^2 - 3P + 9, b) Q(P) = P^2 - 4/1, c) Q(P) = ln(P-1). 3) Estimate the change in a company's total costs function of TC(Q) = 3Q

    Copyright:

    © All Rights Reserved
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    of 1

    Mathematics for Business and Economics 2017/18

    Seminar 2 (October 19)

    Exercise 1
    The demand for a certain product is given by D(P) = 9 − P2 and the supply for the same
    product is given by S(P) = 5P − 5.
    a) Plot the demand and supply function in the PQ plane.
    b) Find the equilibrium price and quantity.

    Exercise 2
    Find the economic domains of the following demand functions:
    a) Q(P) = −P3 + 3P2 − 3P + 9
    v
    t P
    u
    b) Q(P) =
    P2 − 4
    1
    c) Q(P) = ln
    P−1

    Exercise 3
    The company’s total costs function is

    TC(Q) = 3Q2 + 45,

    where Q is the number of items produced.


    Estimate the change in the company’s total costs, if the current production level q0 = 150
    items is increased by 5.

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