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Midterm EXAM
Spring 2021
Business Mathematics II (MATH 221)
February 21st, 2021
4:00 to 5:30 pm
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For question 1 (parts a, b, c & d), find the indicated limit using the graph. If the limit
does not exist, state it and use the appropriate symbol.
𝑥𝑥−4
2. [1 mark] Find lim( )=
𝑥𝑥→4 𝑥𝑥 2 −3𝑥𝑥−4
−3
4. [1 mark] Find lim −
𝑥𝑥→−2 𝑥𝑥+2
4𝑥𝑥 2
5. [1 mark] Find lim ( )=
𝑥𝑥→+∞ 3𝑥𝑥 3 −𝑥𝑥 2 +2
1 − 𝑥𝑥, 𝑥𝑥 ≤ 3
6. [1 mark] 𝑓𝑓(𝑥𝑥) = � ;
−1 + 3𝑥𝑥 − 𝑥𝑥 2 , 𝑥𝑥 > 3
7. [2 marks] the labor force (in millions) in Morocco from 2001 to 2008 can be modeled
by the function L(𝑡𝑡) = −0.008𝑡𝑡 2 + 0.304𝑡𝑡 + 10.054 for 0 ≤ 𝑡𝑡 ≤ 7
where 𝑡𝑡 = 0 corresponds to 2001.
a. [1 mark] Find the rate of change of 𝐿𝐿(𝑡𝑡).
(2−𝑥𝑥 2 )
8. [2 mark] Find an equation of the tangent line to the curve 𝑦𝑦 = when 𝑥𝑥 = 1
𝑥𝑥
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9. [2 marks] Suppose 𝐶𝐶̅ (𝑞𝑞) is the average total cost function of producing 𝑞𝑞 bicycles,
7000
where 𝐶𝐶̅ (𝑞𝑞) = + 60 − 0.5𝑞𝑞 + 0.002𝑞𝑞2 .
q
𝐶𝐶 = 0.01𝐼𝐼 2 + 0.2𝐼𝐼 + 50
Calculate the marginal propensity to consume (MPC) and the marginal propensity to
save (MPS) when 𝐼𝐼 = 30. Give a brief interpretation of these results
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Find the marginal revenue and evaluate it at 𝑞𝑞 = 40. Interpret your result
−2
13. [1.5 marks] Find 𝑦𝑦′ if 𝑦𝑦 = + 𝑙𝑙𝑙𝑙𝑙𝑙7 𝑥𝑥
𝑥𝑥
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