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29 views

Mme

Uploaded by

Abhishek Sancheti
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Unique Paper Code: 12271202_0C Name of the Paper: Mathematical Methods for Economics I Name of the Course: B.A. (Hons.) Economies (CBCS Core) Semester: TT Duration: 3 Hours Maximum Marks: 75 Instructions for the candidates: 1. Answers may be written either in English or in Hindi; but same medium should be used throughout the paper. 2. There are six questions in all. Attempt any four. 3. All parts of a question must be answered together. 4, All questions carry equal (18.75) marks, ren fbat & Fre Pee 41, Fae ath ar feat reve H fora or aaa Zafer at sae eH gt aera Hert safeml Wa as 8 Fe ae TT Bl Peg ae at He AA we ya antt writ sae oH Aare 4, at wait H ate TATA (18.75) Z1 1. A firm produces its output using the following production technology: F(K,L) = L*K®, where K and L are the capital and labor used in the production process and @+f <1. The prices of output, capital and labor are p, w and r, respectively. (a) What level of inputs should the firm use to maximise its profit if it is constrained by law to use the same number of units of capital and labor. (b) Check the second order conditions. (©) Suppose the firm is allowed to use some additional amount of capital in excess of labor input such that the new constraint is K — L = 2. How will it affect the optimal profit level? we ot Rafafea sanes cartel or soein aed ga on Gees Genter we g FCK.L) = 18K? eT K TUL Sere BiseeT A Saat fase rer Poh ser 9 e TUT a+ BS 1. p,wand r, PAM: See, Soh TU a aT Shae | (a) Woh a ond ey wh antares aA Be Fare oneal wr eR ae HH aR UR ga Pah ae aa & For & wan Sea & soa & fram ere wieaheea fase ra g | (b) facta aoa are a Gita | (©) Brn oe aw om a ten oh a Ge sifehad AT a sua we wT ogata a arch & 3 fe en utes K —L = 28 | a ae seRpeTH ary ea aw) wfet LT 2 (8.75, 5,5) 2. (a) Solve for the critical points and determine their types, ic. local maxima, minima or saddle point for the following function: fay) abe + 6y— 18) +yQ—-3) +4 (b) Check whether the function g(x,y) =—e*"¥ —e* +x is convex or concave. Also check if the function is quasi-concave or quasi-convex. (a) feewarcritical) Fegan & fag gat SY wen SA WERT w Puffa SY seta Praferaa wert & fe ert sftem apm a wg fig # ma Ft Fy) = 2x? + 6y— 18) 49-3) +4 (b) Sia BE f Wer g(x,y) = eX —e* +x TU OT stad S | ae Mt aia wT fee wert ortl-suret aT algae & | (10, 8.75) 3. Consider a function: z = 10 ~ y? — (@+1)? (a) Write an equation for the level curve for which z = C. Using z = C, express y as a funetion of x and C. (b) Sketch and label the level curve of the function for C = 1,2,3, and 4. (©) Determine the equation of the tangent plane to the function at the point (1,1) (@) Find the maximum rate of change of this function at (1,1). (6) Is z.a homogeneous function? ep rer wR fa @Y: z = 10 - y? - (x + 1)? (a) Maelevel) ae & fee wettareer fere fore Perez = C z=C ®1 Sam Bed Bly Bx TU CH hers & BT A oa HSA | (b) C = 1,2,3, aura & Ferg wert & aacillevel) see at Vaifooa Te Kaha BE | ( Bees wel sae & Settee 1 flrs (1,1) oe Prefer HF | (d) Sa er & fag (1,1) Ue oa & siftenas ae BH ge BE | (e) Faz ve worardta wer 7 (4, 4, 5, 2.75, 2) 4. (a) Consider the following national income model: CHI+G a+b -T) T=t+oY where a>0,1>0,00,0oand 2>0. Suppose a unique price P* satisfies the equilibrium condition Qu = Q,, stich that P* = P*(¥4). Find the derivative of equilibrium price with respect to income, Yq and interpre Hin-gfd afar Q4 = (P.%), Qs = g(P), Pafefeas, wet L <0, L> oie a 22> 0. arnft facta ana Ps gle Qu =, HI Uge He g sei pr = P*(%o). (8, 10.75) 5. (a) Consider the three vectors: w = (1,1, -1), v = (6,4,—5) and, w Compute the angle between pair of vectors u and v, v and w, and w and w, (b) Determine the point of intersection of the line passing through (2,1,-1), (1,0, 1) and the xy plane. (©) Find the value of a for which planes ax + 3y — 42 bbe perpendicular. —4,-2,3) Sand x — ay + 2z = 6 will (a) dt Be uw = (1,1,-1, v = (6,4,-5) TH w = (—4,-2,3) RAR BT Ud vo UE ww, GUT ov Ue w fee a gar & sha Hho a TOT BE | (b) (1,1, -1), (-1,0,1) IR xy Haha a Paved ge tal & oraviber & fee ‘or Prater ey | (© a Br ERT Te wt fret EAT ax + By — 42 = STM x ay + 22 = 6 ATA em (6.6.75, 6) 12 4 6. (© Costco ers mms andy othemais (3. 70) 5 11 8 i. Prove that these three vectors are linearly dependent. |. Determine a non-trivial solution of x,m, + xm, + x3m3 = 0. 3 iii, Using the solution, express one of the three vectors as a linear combination of the two others, 12 4 (: 7 0) sem, mg SR my RH BTR PA BT Rrra BY fe a at ata Pehla waa | xm, + Xpmz + xm; = 0B AR-Afaae eet Puhr wy | Wea wr oe wee By, ae alee Aa ww aS ora & Yate HTH wut aa et |

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