Description
BECC 102: MATHEMATICAL METHODS IN ECONOMICS
Tutor Marked Assignments
Course Code: BECC 102
Assignment Code: ASST BECC 102/TMA/ July 2024 andJanuary 2025
Total Marks: 100
Section A
Answer the following Long Category questions in about 500 words each. Each question
carries 20 marks. Word limit will not apply in the case of numerical questions.
2 x 20 = 40
1. A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2. Find the
output that maximises this monopolist’s profits. What are the prices at profits and that output?
Find the elasticity of demand at the profit maximising output.
2. Given the demand function PD = 27 – Q2 and supply function Ps = 2Q + 3. Assuming perfect
competition, find (i) the consumers’ surplus, (ii) the producers’ surplus.
Section B
Answer the following Middle Category questions in about 250 words each. Each question
carries 10 marks. Word limit will not apply in the case of numerical questions.
3 x 10 = 30
3. Given the aggregate consumption function C = 0.9Y + 100(where C is aggregate consumption
and Y is aggregate income)
(a) Find the marginal propensity to consume (MPC) and average propensity to consume (APC)
(b) Find the elasticity of consumption with respect to income, and show that it equals MPC/APC
4 Let
X
A
1,3,5
and
Y
2,4,6
Find, X U Y and the Cartesian Product of X and Y .
5. Create a truth table for
(a)
B
(b) The converse of ‘A implies B’.
Section C
Answer the following Short Category questions in about 100 words each
6. What is a point of inflexion ? Does f(x) = x3 have a point of inflexion at x = 0?
7. Find the integral of
(y2-1) dx-2dy = 0
5 X 6 = 30
8. Evaluate the Limits of
X
2
X
2
X
(
X
2
)
As
X
2
.
9. If the demand function for a good is Q=140 – 5P, what is the price elasticity of demand at P =
15 rupees?
10. How long will it take a given sum of money (Say in Rupees) to increase 4 times its present
value when compounded half yearly at 7% rate of interest?
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