Description
BECC 104: MATHEMATICAL METHODS IN ECONOMICS
Tutor Marked Assignments
Course Code: BECC 104
Assignment Code: ASST BECC 104/TMA/ July 2025and January 2026
Total Marks: 100
Assignment 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.Consider the following two matrices
2.An individual consumer consumes two commodities X1 & X2. The utility function is
The price of commodity one is P1 = Rs.3.00, the price of commodity two is P2 = Rs.4.00, the individual’s income per period is Rs.108. Determine the utility maximizing level of X1 & X2 and derive the demand curves for the two commodities.
Assignment 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. (i) Find the stationary points of z.
(ii) Determine if at these points the function is at a relative maximum, relative minimum, infixion point, or saddle point.
4.Solve the following differential equation
5.Find the maximum value for f(x,y) if x and y are constrained to sum to 1 (That is, x +y = 1). Solve the problem in two ways: by substitution and by using the Lagrangian multiplier method.
Assignment C Answer the following Short Category questions in about 100 words each 5 X 6 = 30
6.Define a. Adjugate of a matrix
7.Decomposable matrix
8.Singular matrix
10.Explain the concept of maximum value function.
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