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Exercises
Work it out first, then reveal. If you get stuck, the link under the exercise takes you to where it is explained.
Differential calculus
a)Explained in: Reconstruction
Determine the polynomial function of degree four that is axis-symmetric about the y-axis, goes through the origin and has the minimum point .
Solution
, , , so
b)Explained in: Reconstruction
Determine the polynomial function of degree three with the maximum point and the minimum point .
Solution
, , , , so
c)Explained in: Reconstruction
Determine the polynomial function of degree three that has the saddle point and goes through the point .
Solution
, , , , so
Differential calculus in economics
b)Explained in: Demand function (price function), market equilibrium
.
Solution
maximum price MU, saturation quantity QU
c)Explained in: Demand function (price function), market equilibrium
, wanted and its meaning.
Solution
, 4 MU less per QU
f)Explained in: Demand function (price function), market equilibrium
, wanted the minimum supply price and .
Solution
MU and MU