###### Basic Mathematics for Economists

315 SOLVED PROBLEMS

Question: 12.13

## At what level of K is the function Q = 12K^0.4(160 − 8K)^0.4 at a maximum? (This is Example 11.1 (reworked) which was not completed in the last chapter.) ...

The objective is to find the value of K which maxi...
Question: 11.RW.1

## A firm faces the production function Q = 12K^0.4L^0.4 and can buy the inputs K and L at prices per unit of £40 and £5 respectively. If it has a budget of £800 what combination of K and L should it use in order to produce the maximum possible output? ...

From the budget constraint 40K + 5L = 800         ...
Question: 15.RW.11

## Derive the determinant of matrix A = [ 4 6 1 2 5 2 9 0 4 ] by expanding along the 3rd row. ...

Expanding across the 3rd row, the first term will ...
Question: 2.53

## Use logs to find ^8√ 226.34. ...

Log 226.34 must be divided by 8 to find the log of...
Question: 2.54

## If 460(1.08)^n = 925, what is n? ...

\begin{aligned} 460(1.08)^n &=  925 \\ ...
Question: 2.52

## Calculate 1,242.67^6 using logs. ...

log 1,242.67 = 3.0943558 This means  1,242....
Question: 2.50

## Evaluate 4,632.71 × 251.07 using logs. ...

Using the [LOG] function key on a calculator log 4...
Question: 2.51

## Evaluate 56,200 ÷ 3,484 using logs. ...

From log tables log 56,200 = 4.7497363  log 3,484 ...
Question: 2.27