Mathematics For Economic Analysis Set 2

Q1 | The value of is

Q2 | A variable which is free to take any value we choose to assign to it is called

Q3 | The variable that stands alone on the left-hand side of the equation such as y =2x + 1 is known as

Q4 | The functions y = 2x + 1 and x = ½ y – ½ are said to be

Q5 | A function where a variable x can only vary in jumps, is often called

Q6 | The value of the dependent variable where the graph cuts the y-axis is called

Q7 | The point at which the graph cuts the x-axis is called

Q8 | A linear function of the form 6x – 2y + 8= 0 is known as

Q9 | If we are told that the two statements ‘y = 3x’ and ‘y = x + 10’ are both true at the same time, theyare called

Q10 | Solving the simultaneous equations 8x + 4y = 12 and -2x + y = 9 gives

Q11 | Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in the inverse function which is interpreted as the minimum price that sellers are willing to accept forthe quantity qS is called

Q12 | The equilibrium price and quantity, given the inverse demand and supply functionspD =-3q + 30 and pS = 2q – 5

Q13 | The simplest case of a quadratic function is

Q14 | The simplest form of rectangular hyperbola is

Q15 | A possible use in economics for the circle or the ellipse is to model

Q16 | A consumer’s income or budget is 120. She buys two goods, x and y, withprices 3 and 4 respectively. Then the budget constraint can be expressed as

Q17 | A determinant composed of all the first-order partial derivatives of a system of equations,arranged in ordered sequence is called

Q18 | If the value of the Jacobian determinant = 0, the equations are

Q19 | If the value of the Jacobian determinant , the equations are

Q20 | A Jacobian determinant is used to test

Q21 | A determinant composed of all the second-order partial derivatives, with the second-order direct partials on the principal diagonal and the second-order cross partials off theprincipal diagonal, and which is used to second order condition of optimization is called

Q22 | A positive definite Hessian fulfills the second-order conditions for

Q23 | A negative definite Hessian fulfills the second order conditions for

Q24 | The determinant of a quadratic form is called