Mathematics For Economists Chapters 26-30 & To A6 - 2 - 2
Mathematics For Economists Chapters 26-30 & To A6 - 2 - 2
Mathematics For Economists Chapters 26-30 & To A6 - 2 - 2
Selected Answers
Chapter 2 Answers
d) 4 = -21 + 2,
2.9 u) additional revenue from the (q + l)st output, that is, marginal revenue.
d) increase in consumption when national income goes up I unit.
2.1 I ii) -21.1~.
c) -(Y,>)i~-.
c) 6.r - Y + (14/5).r zi - (3,2).r+.
,T) 4~~ + 9.8~ + 6.~ - 3. i) 2/(x + I), k) 7(.x ~ 3,~)~(S~r -- 6s)
ni) (or + Z.zQ(4.r + 5)(44.? + 45.~ + 40.x + 30).
2.12 u) F = 6.~ 9.
h) v = (I /Y)~r + Q/9).
(3/4)YJ
increases
30.78
dollars.
900
+ 2kb)l.
Chapter 4 Answers
4.1 a) (8 0 h)(z) = (5i - I)2 + 4, (h 0 g)(x) = 512 + 19.
b) (g o h)(z) = (z - l)+ + l), (h o g ) ( s ) = (x 1)(x + I).
c). d) (8 0 h)(z) = z, (h 0 g)(l) = 1.
4.2 a) inside ) = 3.~~ + 1, outside z = ?.I
h) inside y = l/x, outside z = y* + 5y + 4,
c) inside y = 2.x - 7, outside z = COSJ.
4.3 a) (g 0 h)(l) = 2(Sz - I)5 = 50: - 10,
(h 0 y)(\.) = 5 2x = 10x,
b) (g o h)(z) = 3[(; ~ I)(z + 1)]*(2z) = 6z(z - I)+ + l),
(h o g)(r) = 2 x 3x2 = 6.x5.
4.4 a) i(3.G + 1)-/I 6x = 3r/qFG
b) [2(1/x) + 51 (p I/.?).
4 . 5 0) cos(P) 4x1, b) cos(I/x) (-l/,?)
c:) cos\/(2fi). d ) (cosJ;)/2,,&.
c) 2 d)4 e) l/4
f) 1 g) l/32
h) 125
5.4 a) 1 h) ~3 c) 9 d) 3 e) 2 f) -1 8) 2 h) l/2
5 . 5 a) (In9)/6 b ) 0 c) 5/ln2
5.6 i = (In 3)/r-
i) 0
d) 2 + (In5/In2) e) 2 f ) 5
f(.V) = G + 3.x$
f(.,~) = (& + ++:+2
f(x) = 8r3/(x + 2)
f(.r) = (I ~ ~r)/e~
i ) l/3125
f(\)
y(.r)
f(.V)
f(x)
=
=
=
=
6$ + 9x3
(4~T + 12.x + 1 l)cJz+3~-?
(48.G XP)/(r4 + 2 )
(.I - 2)/2
901
f) jq.x) = (I - lnx)/x~
5.10 dy / d \ = l/(x In IO)
5.11 c
5.12 a) $1870.62 b) $4754.17
5.13 48.05 years
5.14 f = l/(4?)
5.15 f = 3.393
5.16 a) y = 3s/(x~ + l)(x* + 4)
h) yj = 2X(lll(.Y? + I)(.ry
Chapter 6 Answers
7 . 2u ) . r =S . y=6 . . =2 .
7 . 3o ) . r ~=17 / 3 . ?= - 13 / 3 ;
7 . 6 u) Y = h l " /(sh
b )r = . - = l . J= - ? .
~~ ) . 1=1 , ~= - 1 , ~= - 2 .
b , i .) both decrease as s
increases.
7.12 M = -1, .r = I. J = 2. : = 3
902
b) q = 0, p = -I.
7.20 a) I, b) 2, c) 3, e) 3.
7.21 a) Only the zero solution for i, iii and iv; infinitely many other solutions
for the other two. b) Unique solution for every RHS for i and iv; infinitely
many solutions for every RHS for ii; .?ero or infinitely many solutions depending ou the RHS for I:; zero or one solution depending on the RHS
for iii.
7.23 Only c.
7.25 i) : a) 2, b) z and 1 of the other 3, c) : = l/4, x = (3/4) + M - 2~.
7.26 C = 0.05956 P, S = 0.04702. P. F = 0.35737 P
7.29 a) : and any two of the other 3 can be endogenous;
b) if y is chosen as
exogenous and set to 0, M = 0.6, I = 0.6, z = 0, c) if z is the only
exogenous variable and set equal to 0, the corresponding system has infinitely many solutions.
7.30 No, the 3 X 4 coefficient matrix has rank 2; no submatrix can have
rank 3.
Chapter 8 Answers
u)A+R=(;
-; ~),A~nundetined,38=(,~ -; -;),
Dc=(;:,.BJ=(py -$4JCJ= (f Ip
,.,,.I,,=(;
;).Dc=(;
;)
(-:
-i)=(-:
-;)
a) (; a) + (A ;) = (; ;). nuf
[A61
SELECTED ANSWERS
-i), h) ( $2
-5/2
3/2
l/3
0
0
l/3
-1
l/2
l/3
l/3 -T/3
f) ( -l/42
9/2
3/4
-$), d singular,
-6
3/2
) ,e) ( 13 -3
5/3 -l/3
IO/3 -x/3
-15/2 -1 11/2 3/4
i
-y;
-1
2
l/3
,i)(+(-i),
-g l,p li)(-;)=(li)
(
8.21 A n x n and AB defined implies B has n rows.
A n x n and BA defined implies B has n cohmms
Cl
8.22A4=(;;
;:),A3=(h
0
...
:)X2=(-;
-;).
8.40A-, = A;,U+Ad~
Ad,)
( - C +Az,A,
where
8.41 a) A,,
h) Ai!
L.) AZ2
PA;,A~~C~
c-1
C = A?? - A>,A;,A,2.
and A>> nonsin&~
and A,, - &A,~A?~ nonsingular.
invertible and pTA, p nonzero.
d) Es-l).
8.42 a) E,~(31,
h) &-I).E,4(2) .E,2(-3).
L.) EdI). E,A3). E12(-2).
Ez(l)~E,&2).
En-3)
903
904
8.43
determinants = I
LAbI
SELECTED ANSWERS
905
1
0
I
0
3
6
2
5
0)(2.-l) h)(-2.-1)
i.)(2.l) d)(3.0)
ej(1.2.4) f)(2,y2.3).
,f)
10.10 u)
(1.4)
x)(1,1)
h)(3.7.l)
i)(p2,~4,0)
j)undefined
10.11 a) 5 h) IO c)4
d) &i f) 6
i) 3
c) acute, 30
d) obtuse, 106.8
d($&) ")(j+&j$)
10.29 no
10.30 a)xz = -3x1 + 15
b) (1 - r,t) ; (;, 1)
c) (1 + I,[, 1 - 1) ; (;, $1 ;)
b)xz = -XI + 8 c) x2 = 5
C)X(fo=(;)+(;)t
10.32 no
10.33 dx(f)=(;)+l(j) ; x2 = 2x ,
b) x(f) = ( ; ) + t (;) ; 12 = 3x , - 2
cMf)=(;)+f(-;
):
x* = -+x , 14
d)~~~,~)=(a)+(I4)~+(-s)~
10 . 35 a) y = - i x + ;; b) y = ; + 1 ;
c ) - 7x+2y+z= - 3 ;
d ) y=4
907
-1
10.40 (ll/3.-11/3.1)
10.41 (;)=(-;)+(-gr or +G=?
10.42 If I increases, so does Y and r*. If MS increases, Y increases and r*
decreases. If co increases, so does Y and r*.
Chapter 11 Answers
11.2 a) independent b) dependent c) independent d) independent
11.3 a) independent h) dependent
d) (-1r-(+)
908
f- (4)
onto
f(y + 7) yes
0
In(y)
no
Yes
no
).I/3
Yes
l/y
no
4.2 + 1
no
0
Chapter 14 Answers
14.1 a) fy = 8xy - 3y3 + 6
b) f\ = Y
c) fs = y2
fv = 4x2 9xy2
fv = x
fv = 2xy
fv = 3$+%
e) f* = -2v/(s - ?.)I fl = 2.r/(x - ?.)I
f) fy = 6xy - 7$
f>~ = 3.~ - (71/2$)
uI-Ii:,
3
14.2 4 z = kal.~, 2 a~,~> = ka2Tyllqlrl
h) +
,/I , = ~,,hk,~l~~~(c,.l-, + c,.y;)-:-,
z = c2hk.v;m(c,.l-,
+ (:.x2 I) :
d) f> = 2&r 3?
c) 238.032
d) 241.843, 241.837
7.25
14.13 -3/x
14.14
-148.000
909
14.15 (6,5,6)
141, . c=-
c(I
d.S
a
=+2
31
i ,~
aq,/ar
dqz/c+
427.5
a/Jr =
~400/3
aq2/at 1
(
19.5
~20/3
Chapter 15 Answers
15.3 2.9X
I = -.73.
? = 1.X:
910
1 5 . 2 5 a ) endogenous
b) yes.
1 5 . 3 3 .Y = f( J n z + h 2 + a), y z = f ( m
as b.
1 5 . 3 6 detDF(.r,y) = det ( -$
1 5.3 9
;) = I + ,rm~r > 0.
f( x ) is never negative.
C h a p t e r 1 6 A n s w e rs
1 6 . 1 a) positive definite b) indefinite c) negative definite
d) positive semidefinite e) indefinite f ) negative semidefinite
g) indefinite
1 6 . 4 (1) = &
1 6 . 6 a) negative definite b) positive definite c) positive definite
saddle point; (l/&. 2/5) local min: (- I /fi. 2/5) local max.
b) (13/7. 16/7). saddle point:
L.) (O,O), saddle point; (I, I), local min (p I, I), local min:
d) (0,O). cannot tell: (l/2, -l/2). local min; (-l/2. -l/2), local min
17.2 a) (~369/137, ~14/137,29/137), saddle point:
b) (0.0, O), local min: (I, O,O), saddle point; (- I, 0, O), saddle point:
(0. I, 0), saddle point: (0, I, 0), saddle point: (0.0. I). local max:
(0.0. ~ I), local max.
1 7 . 3 a ) local max = (p I /Js, 2/5), not global max; local min = (I /&. 2/S)
not global min:
b) no local max or min:
r) global min at (I, 1) and (- 1, - 1) since the function is convex for the
open sets U = {(x, y)l.r > I /&} and Il- = {(,I~, J)I.v i -I /&};
d) no local mins or maxs.
1 7 . 4 (I /256, I /256)
1 7 . 5 J = paQ/n., y = pbQ/r-, u, h E (0. 1): p, !,.I > 0
(YO/5Yl
911
Chapter 18 Answers
18.2 +(l, 1) are local minima; it,/?, -4) are local maxima.
18.3 approximately (1.165,1.357)
b) AQ = -25,600; c) AQ = -25,360.T
19.4 1.8
19.5 8.4
19.12 max = 2.569, min = 1.438.
19.13 1.025
19.14 For exercise 18.2, at (x,)., h) = (&, -&, 2) and (-&,J?,2), detH
= 24 > 0; maxima. At (1,1,2/3) and (-I, -1,2/3), detH = -24 <
0; minima. For exercise 18.3, at (x,y, h) = (1.165, 1.357, -.714),
0
-2x1
det -21 2 + 2h 0
= - 11.43 < 0; minimum.
2 )
( 1
19.18 The Jacobian of system (11) in Chapter 18 at (x1,x2, p) = (1, 1, S) is
-4
2 , whose determinant is 48 > 0.
(-$
1s
-O)
0
19.21 18.10: 3.4, 5; 18.11: 3; 18.12: 3.
Chapter 20 Answers
20.1 a) yes, degree 6 b) no c) yes, degree 0 d) yes, degree 1, e) no
f) yes. degree 0
20.8 a) yes. b) y In(.r/~), c) 5~, d) (x:/q) + (x;/x:,, e) (x; + x$/x?.
912
SELECTED ANSVVERS
IA61
14 - z?, n o ;
2 0.1 2 a ) y e s, 72 + 2 ;
h) y e s, Inz + I;
(.) n o ;
d) yes, zj.
2 0.1 4 n o
2 0 . 1 7 a ) y e s h) y e s c) y e s d) no P) yes.
2 0 . 1 8 a ) y e s h) y e s c) y e s d) no e) yes f) no .
C h a p t e r 2 1 A n s w e rs
21.2 a) convex
derivative.
2 1 . 9 For example, all C2 positive concave functions on R.
2 1 . 1 8 u) both b) both c) both
d)neither
P) neither f) quasiconvex
g) both h) neither.
2 1 . 2 3 a ) neither b) quasiconcave c,) both d) quasiconvex
e) quasiconcave f) quasiconcave
i) quasiconvex
C h a p t e r 2 2 A n s w e rs
C h a p t e r 2 3 A n s w e rs
23.7a)P=(;
$=(a
;);
913
914
;).
b)(;
15) c)(-;
A).
b) (c,2O + nc22-
23.26
a) (p
; ji),
+ Fc,~~*
b)
(-1:
i 8),
d)
(;
8 9).
23.28a)~[(clcosnO-~2sin,iDj(-J)-(c2cosnR+c:sin,rB)(~)]
where cos 8 = 2/Ji7;
23.30a)c:(;)+c>(0.2)-;);
b,,,(:)+.1(0.51~(~i).
C-3
[A61
SELECTED
ANSWERS
h + ((cd):)
24.10 a) ? = e;
k = 0.
b)c
b) y = 2~ + e3.
24.13 a) x = feF:
h) y = em/ + (3/2)~~.
b) y = 2cos3t + (1/3)sin3t.
b) .v = e~(cost + sint);
p. 128.
Chapter 25 Answers
25.1 u) (1;:) = (.,PJ ( -;) + c,e~~~ ( -1):
b,(:)=~,(:)+(2~(~~).
915
- gsiny.
- c,(.& y2 =
b) (0.0);
cl a I). (2,O).
25.13 Trace DF(xn) < 0 and det DF(x,) > 0 implies that x0 is locally asymptotically stable.
25.16 The eigenvalues
of Jacobian at (C/D,A/B) are the pure imaginary
numbers ii&??
25.17 u) asymptotically stable,
b. c. d, e,.f) unstable.
25.20 a) All orbits in interior converge to (I, 3); h) All orbits in interior
converge to (0.6): (.) All orbits in interior converge to (3.0).
25.24 F = ?,i~ + .ri = .rx - .r: = 0.
c/v?
0
is positive definite in
A/y-4
(0
the interior of the orthant, F is convex and its critical point (C/D.A/B)
is a global min.
Chapter 26 Answers
26.1 n) I.
/xc) 0. d) 16.
I /5Y
PI/S9
6/59
-63/59
4/s)
3S/SY
54/5Y
5/S')
-X)/59
S o . detA =
26.25 a) (- ; - i ) .
- l / IO
27/80
9/40
- l /5
-3/40
3/X0
3/10
-7/20
l /5
-l/80
-I]/20
l/20
l/IO
-3/20
-l/80
El
-3/2
5/4
0
h, c) not invertible, d)
917
l /4
- l /2
l /4
2/5 i
26.29 a) Since the leading principal minors are 1. -6, and 28, the pivots are
I, -6/ l = -6, and 28/(-6) = -14/3.
Chapter 27 Answers
27.1 a) yes.
c) ves.
f) yes.
27 . 6 11
I
0 I
I
2)
cannot be determined.
3)
(-3
918
h) $l(n I) x II!.
si. 1119.
919
Inl.2=0.2;
Inl.2=0.18;
Inl.2=0.182666...;
In 1.2 = 0.18232..
I n 2 = I; I n 2 = 0 . 5 ; In2 = 0.8333...: In2 = 0.693147...
= 1.86121, Pi(1.5.2)
= 1.86816.
30.12 a) hl;
AZ.6 cos(a/2)
920
h)l-4i,
c)IS-i.
A3.3 h -i&.
A3.7 a) I, (-1 + i&)/2, (~1 - i&)/2.
A3.8 a) e(cos 1 + i sin l),
h) i.
49 +
h) +(;x
6~~ - Ina.
c) +,
ix + a).
2.47.
A4.4 a) 14/3.
A4.5 30.
A4.6 [,fe
I; a.~fyr)
dr,
Appendix A5 Answers
AS.2 a) 3.5, h) $7.
AS.3 EV = 7. Var = 35/6. EV = 535/1X.
A5.4 a) 0.1(900)1
c,) = $10.32.
+ 0.9(1000)1
= 9.965;
h) 9901 = 9.967.