The following set of sample questions is designed solely to introduce you to the types of questions you may

encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 1

Question 1

a) Fill in the missing entries of the, assuming that the equation holds for all values of the
variables.

b) Use Gaussian elimination to solve the following system of equations:

Question 2

Determine whether the given vectors are linearly independent. Provide a clear justification
for your answer.

a = (2, −4, 2); b = (1, −3, 2); c = (−1,5, −4)

Question 3

A monopolist producing two goods, G1 and G2, has the following total cost function,
which depends on the quantities of both goods:

TC = Q1 + 3Q1Q 2 + Q 2
2 2

where Q1 and Q2 denote the quantities of G1 and G2 respectively. If p1 and p2 denote the
corresponding prices then the demand equations are

Q1 = 1300-p1, Q2 = 675 -0,5p2

a) Find the values of Q1 and Q2 that maximize the profit.

1
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

b) Determine the maximum profit if the firm's total cost is fixed at $100.

c) Estimate the new optimal profit if the total cost increases to $101.

Question 4

a) Determine the limit of the following function. If the limit does not exist, state so
explicitly:

9− x
lim
x →9 x −3

b) Determine whether the given function is continuous at 𝑥=5. What are the reasons for
your conclusion?
c) Determine whether the given function is continuous over the interval [2; 7]?
2x - 3 if x > 5
f (x) = 
3(x - 5) + 7 if x  5

Question 5. Let Pd be the price, in dollars per unit, that consumers are willing to pay for Q
units of an item, and ps be the price, in dollars per unit, that producers are willing to accept
for Q units.

a) Find the equilibrium point

(b) Calculate the consumer surplus at the equilibrium point.

Qd = 113 − pd , Qs = ps − 1

2
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 2

Question 1. Find the inverse of the following matrix. Be sure to include all the steps you
took to obtain your result.

 −1 2 3 
 2 −1 0 
 
 1 1 −1

Question 2

a) Determine which of the following sets is a basis for R3. Justify your answer.

Set 1: a = (−2, m); b = (3, −1)

Set 2: a = (2, −4, 2); b = (1, −3, 2); c = (−1,5, −4)

Set 3: a = (1, −1,3, 2); b = (−2,1, 2,1); c = (−3,1, −2,1)

b) Find the value of m for which the following vectors are linearly dependent. Justify
your answer.

a = (2, −1, m); b = (1, −1, m); c = (1, m, −1)

Question 3

a) Consider the following demand function:

Q = 1200 − 2p

Find the value of p (in dollars) that maximizes total revenue, where Q is the quantity of
items sold when the price per item, in dollars, is p.

3
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

b) A firm’s production function is given by Q=50KL, where 𝐾 is the amount of capital

and 𝐿 is the amount of labor. The unit costs of capital and labor are $2 and $3,
respectively.

- Given a production quota of 1200 units, determine the values of 𝐾 and 𝐿 that minimize
the total input cost.

- Estimate the new minimize total input cost if the production quota rises to 1201 units.

Question 4

a) A total revenue function is given by

TR(Q) = Q3 – 6Q2 + 10 Q

where TR(Q) represents the total revenue in thousands of dollars from the sale of 𝑄
items.

a) Find the rate at which total revenue is changing when 20 items have been sold.

b) Is the function given by

 2x 2 -18
 if x < 5
f (x) =  x − 3
3(x - 5) + 16 if x  5


continuous at x=5. What are the reasons for your conclusion?

Question 5

Evaluate MPK and MPL for the production function Q = 2LK + L , given that the current
levels of K and L are 7 and 4, respectively. Hence

a) Use implicit differentiation to find the value of dK/dL at the current levels of K and L.

b) Estimate the additional capital required to maintain the current level of output when
labor decreases by 1 unit.

4
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 3

Question 1

a) Find the rank of the following matrix :

 1 −3 4 2 
A=2 1 1 4
 
 −1 −2 1 −2 

b) Given the demand function

Q = 200 − 2P − PA + 0.1Y2

where P = 10, PA = 15 and Y = 100, find the price elasticity of demand.

Question 2

a) Is 5 an eigenvalue of

Justify your answer.

b) Diagonalize the following matrix, if possible.

Question 3

A monopolistic producer of two goods, G1 and G2, has a total cost function

TC = 5Q1 + 10Q2

where Q1 and Q2 denote the quantities of G1 and G2 respectively. If P1 and P2 denote the
corresponding prices then the demand equations are
5
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

P1 = 50 − Q1 − Q2, P2 = 100 − Q1 − 4Q2

a) Find the maximum profit if the firm’s total costs are fixed at $100.

b) Using the Lagrange multiplier, estimate the new optimal profit if total cost rises by 1
unit.

Question 4
Find the maximum profit and the number of units that must be produced and sold in order
to yield the maximum profit :

R(x)=9x-2x2, C(x)=x3-3x2+4x+1.
Assume that R(x) and cost C(x) are in thousands of dollars, and x is in thousands of
units.

Question 5

The input-output matrix (in 1000 billions of VNDs) for 3-sector economy is

0, 4 0,1 0, 2   40 
 
A = 0, 2 0, 3 0, 2  and B =  40 
 0,1 0, 4 0, 3  110 

a) Given the interdependencies in the production process, how many units of Product 1 are
required as an intermediate input to produce one unit of Product 2?

b) Find the outputs of the three industries needed to satisfy total demand.

6
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 4

Question 1 Diagonalize the following matrix

 5 −1 2 
A =  −1 5 2  .
 2 2 2 

Question 2 Consider a three-sector economy where the interindustry sales (sectors selling
to each other) and the consumption matrix:
 0,1 0, 2 0,3 
C =  0,3 0,1 0,1  .
0, 2 0,3 0, 2 
a. What will sector 2 consume from sector 3 if it decides to make one unit?

b. Given that the outputs are 100, 120, 130 respectively. Determine the final demand of
each sector?

c. Suppose, due to technical improvements, industry 1 saves 20% of the amount used from
industry 2. Find the new consumption matrix.

Question 3 The demand equation for a company is

P = 200 − 3Q ,

and the cost function is

C ( Q ) = 75 + 80Q − Q 2 , 0  Q  40.

a. Write down the expression for the marginal cost function. Evaluate the marginal cost at
P = 110

b. Determine the value of Q and the corresponding price that maximize the profit.

Question 4 Given the utility function

u = x 0,2 y 0,8 .

7
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

a. Write down the equations for marginal utilities.

b. Find the maximum value of the utility subject to the budget contraint 4 x + 2 y = 180 .

Question 5.

1 1 
a. Evaluate the limit (if it exits): lim  − 2  .

t →0 t t +t 

b. Given the function

 x2 − 2x
 , if x  2
f ( x ) =  x2 − 4 .
a , if x = 2


Determine a such that the function is continuous at x = 2 .

8
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 5

Question 1. Solve

2 x + 3 y + z + 2t = 3
4 x + 6 y + 3z + 4t = 5

 .
6 x + 9 y + 5 z + 6t = 7
8 x + 12 y + 6 z + 8t = 9

Question 2. Consider a three-sector economy where the interindustry sales (sectors selling
to each other) and the final demand given in the following table
Input
Output Final demand
1 2 3

1 45 x 75 100

2 y 40 90 150

3 80 65 100 z

a. The total outputs are 310, 350 và 445 respectively. Determine x, y, z ?

b. Find the input coefficients matrix A.

Question 3 The demand equation for a certain commodity is

1 2
P= Q − 10Q + 300 , 0  Q  60 .
12

a. Write down the experession for R and MR.

b. Find the consumer surplus when the selling price is 75$.

Question 4 a. The profit function for two goods is given by the equation

 = 527 − 2 x 2 − 3 y 2 − 2 xy + 20 x + 20 y

a. Determine the values of x and y for which profit is maximized.

9
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

b. Determine the values of K and L which minimise the cost function C = 3K + 5L subject
to the production constraint 250 = 10K 0,5 L0,5 .

Question 5

x2 + 9 − 5
a. Evaluate: lim .
x →−4 x+4

b. Given

 2 x3 − 5 x − 3
 , if x  3
f ( x) =  x−3 .
6, if x = 3


Show that the function is discontinuous at x = 3 .

10
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 6

1 −1 −1
Question 1: Given that 𝐴 = [ 1 3 1]
−3 1 −1
Show all your works to
a) Find the eigenvalues of A?
b) Diagonalize the matrix A, if possible.

Question 2: Assume that an economy is based on 3 industrial sectors 1, 2 and 3. The

technology matrix is A, and the final demand vector (in billions of dollars) is B
0.1 0.3 0.1 10
𝐴 = [0.2 0.1 0.1] , 𝐵 = [40]
0.4 0.2 0.3 25
a) Show all your works and do not use calculator for solving linear equations system
to find total demand for each sector that is needed to satisfy the final demand.
b) Interpret the economic meaning of the value 𝑎12

Question 3: A business produces 2 types of products with output 𝑄1 and 𝑄2 to supply to

the market at the price 𝑃1 = 200 and 𝑃2 = 375 (unit 1000 VND) for each product.
Knowing the total cost function is
𝐶 (𝑄1 , 𝑄2 ) = 𝑄12 + 𝑄1 𝑄2 + 𝑄22 + 25𝑄2 + 500
a) Find the output (𝑄1 , 𝑄2 ) for the maximum profit and show the maximum value.
b) Suppose in a difficult situation, the firm cannot produce the output 𝑄1 . Find the
output 𝑄2 for the maximum profit and show the maximum value.

Question 4:
Given the demand function and supply function as below

11
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

𝑄𝐷 = −2𝑝 + 90
{
𝑄𝑆 = 𝑝
By using integral formula, find
a) Customer Surplus (CS)
b) Producer Surplus (PS)

Question 5: Find the limits

a)
𝑥−2
𝐴 = lim
𝑥→2 𝑥 2 − 3𝑥 + 2
b)
√𝑥 2 − 1
𝐵 = lim
𝑥→−∞ 2𝑥

12
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 7
1 −1 1 −1 −1
Question 1: Given that 𝐴 = [1 1 ] , 𝐵 = [ 1 1 1]
2 4 −2 1 −1
a) Find 𝐴𝑇 𝐵 + 𝐴𝑇
b) Calculate det(B) by the method of expanding row.

Question 2: Solve the linear system by using the Gauss elimination.

2𝑥1 − 𝑥2 + 𝑥3 = −2
{ 2𝑥1 + 𝑥2 − 2𝑥3 = 6
𝑥1 + 2𝑥2 + 3𝑥3 = 2

Question 3: Determine whether the set of vectors in 𝑅3 is linearly independent or

linearly dependent.

𝛼 = {(1,2,0), (−2,3,0), (5,1,4)}

Question 4: Assume that an economy is based on 3 industrial sectors 1, 2 and 3. The
technology matrix is A, and the final demand vector (in billions of dollars) is B
0.1 0.2 0.1 10
𝐴 = [0.3 0.1 0.1] , 𝐵 = [20]
0.2 0.4 0.3 40
c) Show all your works and do not use calculator for solving linear equations system
to find total demand for each sector that is needed to satisfy the final demand.
d) Interpret the economic meaning of the value 𝑎12
Question 5:
Given the demand function and supply function as below
𝑄𝐷 = −3𝑝 + 120
{
𝑄𝑆 = 𝑝

By using the integral formula, find the Producer Surplus (PS)

13
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

Question 6: Find the local maximum and local minimum values of

𝑓 (𝑥1 , 𝑥2 ) = 200𝑥1 + 375𝑥2 − 𝑥12 − 𝑥1 𝑥2 − 𝑥22 − 25𝑥2 − 500

Question 7: A firm has a production:

𝑄 = 2𝐾 0.3 𝐿0.5

a) Evaluate the effect of increasing the scale of production.

b) Assume the rent of capital is 12 USD, the cost of labor is 4 USD, and the firm
proceeds to produce with a fixed budget of 9600 USD. Find the values of K and L
so that Q is maximized.

14
 The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

FINAL EXAMINATION

SAMPLE 8

Question 1:
2 3 5 1
c) Let 𝐴 = [ 0 2 0 0 ]. Compute 𝑑𝑒𝑡(𝐴𝑇 ).
1 −1 −2 2
1 1 0 4
Be sure to include all the steps you took to obtain your result.

𝑥1 + 2𝑥2 − 2𝑥3 = 2
d) Find 𝑚 such that { 2𝑥1 + 4𝑥2 − 5𝑥3 = 5 has has at least a solution.
3𝑥1 + 6𝑥2 − 𝑚𝑥3 = 7
Question 2:

a) Prove that the function 𝑧 = 𝑥𝑦 + 𝑥𝑒 𝑦/𝑥 satisfies the expression

𝑥𝑧𝑥′ + 𝑦𝑧𝑦′ = 𝑥𝑦 + 𝑧
b) The implicit function 𝑦 = 𝑦(𝑥) defined by 𝑥𝑒 𝑦 + 𝑦𝑒 𝑥 − 𝑒 𝑥𝑦 = 0. Find 𝑦 ′ (𝑥)

Question 3:

a) Find the extreme values of 𝑓 (𝑥, 𝑦) = 𝑥 2 + 𝑥𝑦 + 𝑦 2 − 3𝑥 − 6𝑦

b) Find the extreme values of 𝑧 = 𝑥 2 (𝑦 − 1) − 3𝑥 + 2 satisfying that 𝑥 − 𝑦 + 1 = 0
(Using the Lagrange multiplier technique).

Question 4:
Given the demand function and supply function as below:
𝑄𝐷 = −3𝑝 + 120
{
𝑄𝑆 = 𝑝
a) Find the equilibrium point of the market.
b) By using the integral formula, find the Producer Surplus (PS)
Question 5: A firm has a production:

𝑄 = 2𝐾 0.3 𝐿0.5

15
The following set of sample questions is designed solely to introduce you to the types of questions you may
encounter. Please note that this test set does not reflect the actual exam's format or scoring structure.

c) With the above production function, should the firm double the amount of capital K
and labor L?
d) Assume the rent of capital is 24 USD, the cost of labor is 8 USD, and the firm
proceeds to produce with a fixed budget of 19200 USD. Find the values of K and L
so that Q is maximized and find 𝑄𝑚𝑎𝑥 .

16