Name______________________________________Sex______ID No_________________Study center ______
Department ______________Term _______A. Year_______ Phone N._________
Submission Date: - From 04-11 May/2020GC/Miazia26-Ginbot03/2012EC
Mathematical Economics: Course No. (ECON-432)
PART I: MATCH THE RESPONSES UNDER “B” TO THE PREMISES UNDER “A”
Column A Column B
___ 1. One of elementary row operation A. Implicitly differentiation
___ 2. Non invertible matrix B. F(x) is concave at x=a
___ 3. Differentiation in which dependent and C. Interchanging the rows
independent variables are not clearly stated D. Steady state (Vector matrix)
___ 4. f’(a)> 0 E. Singular matrix
___ 5. f’(a)<0 F. F (x)is convex at x=a
___ 6. A row matrix used in Markova chain G. Demand exceeds supply
principle H. Supply exceeds demand
d I. Product rule of derivative
___ 7. ( f (g ( x )) )=f ' ( g ( x ) ) x g' (x )
dx J. Sum rule of derivative
d K. Chain rule of derivative
___ 8. ( fg ) ( x )=f ' ( x ) g ( x ) + f ( x ) g ' (x)
dx
___ 9. Z (P) >0
PART II: CHOOSE THE BEST ANSWER AMONG THE ALTERNATIVES AND WRITE THE
LETTER OF YOUR CHOICE ON THE SPACE PROVIDED.
___ 1. Which one of the following operation rules of matrices is necessarily true?
A. ( A−1 ¿−1=A−1 B. (AB¿−1=A −1 B−1
C. AB=BA D. ( AB¿ ¿ T =BT A T
___ 2.If the determinant of square matrix A is zero then which one is true about matrix A
A. It’s non-singular matrix B. It’s invertible matrix C. It’s singular matrix D. All
___ 3. A mathematical technique used for determining the optimum allocation of resource is called____
A. Linear programming B. Systems of linear equations
C. Markov chain D. None
3 2 dx
___ 4.Let X= I + I ∧I =t , =?
dt
A. t 3+ t 2 B. 3 t 4 +2 t 2 C. 3 t 3 +t 2 D.3 t 2+2 t
___ 5.The degree to which demand for goods or services varies with its price is called_____
A. Supply B. demand C. Quantity D. Elasticity
___ 6.let f(x)=2 x3 −4 x +10 , then f ' (−1) is¿
A. -10 B. 6 C. 2 D. 10
___ 7. From question number 6,f’’ (-1)is _____
A. -12 B. 12 C. -16 D.16
___ 8.If demand (dd) supply (ss) are continuous then which one is true?
A. At zero price demand exceeds supply
B. at zero price supply exceeds demand
C. impossible to say anything about dd and ss D. None
Mathematical Economics: Course No. (ECON-432)
Name_______________________________ Sex________ ID No_________ Center_______________
___ 9.____used to sufficiently approximate functions which are insufficient to approximate by using
linear approximation
A. Linear approximation B. Polynomial approximation
C. Homogenous function D. Intermediate value theorem
Let market demand and supply function is given as =D (p) = 60-p and S (p) =2p, answer question
10-12 using the given information above.
___ 10.The excess demand function becomes
A. A Z (p) =p-60 B. Z (p) =60-3p C. Z (p) = 60-p D. All
___ 11.The equilibrium price value is_____
A. 40 B. 30 C. 20 D. all
___ 12. Quantity of demand and supply function at equilibrium is_____
A. 20 B. 30 D. 40 D. All
___ 13._____is a way of finding an alternative with the most cost effective or highest achievable
performance
A. Local maximum or minimum B. Constraint C. Utility D. Optimization
Suppose that the total revenue function for a particular commodity is given by R(x)= 200x-0.01x 2
answer question number 14 and 15 depend on function of (R)x
___ 14. The marginal revenue (MR) or slope total revenue (TR) function becomes
A. MR =200x-0.02 B. MR=200-0.02x
C. MR=200x-0.02x2 D. MR=200x2-0.02
___ 15. The marginal revenue when the firm produces 100 units of output is_____
A. 19998 birr B. 198 birr C. 200 birr D. 19990 birr
PART III: SHORT ANSWER QUESTIONS.
1. A square matrix whose elements are non-negative and all rows sum to 1(one)is
called_______________________
2. The value that expresses number of linearly independent rows/columns/of matrix A is
called__________________
3. If all rows of a given matrix are linearly dependent to each other then the rank of such matrix
is equal to____________________
4. A model that describes economy in which input equals output supply demand is called________
