Assignment for “Mathematics for Business &

Economics” 2024-HKC

1 Requirements:
Students must carefully read the requirements before submitting their work:

- The work must be handwritten clearly and neatly (it is strongly recommended to use
A4 paper) and include your full name, your signature, student ID (Mã số sinh viên),
and Friday afternoon class.

- Use an app (e.g., CamScanner) or a scanner to scan the completed work into a PDF
file (only PDF files are accepted).

- Name the file according to the following format: c6_fullname_studentID.

Example: If the name is Trần Văn Nam, the student ID is 31241020788, and the course
was held on Friday afternoon, the file should be named: c6_tranvannam_31241020788.

2 Problems:
Important Note: In all the problems below, Γ is the last digit of your Student ID.
For example, if your name is Trần Văn Nam and your Student ID is 31241020788,
then Γ = 8.

Problem 1. Let A, B, and C be 4x4 square matrices with |A| = 3, |B| = 1+Γ, and |C| = 4.

−1
Find the determinant of the matrix 2A3 B T 14 C PA , where PA is the adjoint matrix of A.

Problem 2. Let  
−2 2 3 1
 
 
2 0 1 2
A=



2 0 1 0
 
m 0 Γ 0
Determine m such that

(a) rank(A) = 4.

(b) (A + I)3 is singular .

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Problem 3. Let A be a square matrix of order 3 and PA be the adjoint matrix of A. Suppose
that det(PA ) = det(2A) + Γ, find det(A).
 
m 3 1 Γ
 
 
 3 1 1 1
Problem 4. Given A =    with m ∈ R, determine rank(A) in terms of m.

 4 4 2 2
 
1 3 1 Γ

Problem 5. Let M be a 4 × 4 square matrix satisfying 3M + (1 + Γ)M T = 10I. Find M −1 .

 
  1 −1 1
1 Γ  
Problem 6. Find a matrix X such that AXB = C, where A =  , B = 0 −1 1 ,

0 −1  
0 1 1
 
5 −1 1
and C =  .
3 −1 1
   
5 −1 1 1 1
   
 3 −1 1 2 
   
 2 
Problem 7. Let A =   and B =  , where m ∈ R is a parameter.
   
1 1 1 3   3 
   
−1 1 1 m m+Γ

(a) Find m such that the homogeneous system AX = O has a nontrivial solution and
determine its general solutions in this case.

(b) Find m such that the linear system AX = B is a Cramer system and determine its
solutions in this case.

(c) Solve the linear system AX = B in terms of the parameter m.

Problem 8. Consider an input-output model of three sectors with the Leontief matrix
 
0.1 m 0.2
 
A = 0.3 0.2 0.1
 
 
0.2 0.1 0.3

Suppose that

ˆ The output of three sectors are 210, 200, 180, respectively.

ˆ The total value of inputs required from three sectors for sector 2 is 140.

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 If the final demand of the 3 sectors changes by 10, 20, and Γ respectively, how much will the
output of the three sectors change?

Problem 9. Consider an input-output model of three sectors with the Leontief matrix
 
0.1 0.3 0.2
 
A = 0.6 0.2 0.1 .
 
 
0.2 0.3 0.3

Find the output of the 3 sectors, given that the final demand for the three sectors is 75, 90,
1
and 81, respectively. If, due to technological improvements, sector 1 saves 3
of the materials
from sector 2, determine the output of the three sectors in this case.

Problem 10. Consider an input-output model of three sectors with the Leontief matrix
 
0, 1 0, 3 0, 2
 
A =  0, 4 0, 2
 
0, 1 
 
0, 2 0, 3 0, 3

If sector 1 requires 200 + Γ units from sector 2, how many units does sector 1 require from
sector 3?

Problem 11. Let m be a real parameter.

emx −mx−1
(i) Use L’Hospital’s rule to determine c(m) = limx→0 x2
in terms of m.

(ii) Find m such that c(m) is the slope of the tangent line to the curve y = x3 at (1, 1).

Problem 12. Give an implicit function y = y(x) defined as 2x3 +xy 2 +3x+2y+4yex −Γ = 0.
Evaluate y ′ (0) and y ′′ (0).

∂z ∂z
Problem 13. Evaluate ∂x
(0, 1), ∂y (0, 1), where z = z(x, y) is given by

x3 + y 3 + z 3 + 3xyz = Γ + 2.
 
x
Problem 14. Let f (x, y) = ln 1 + sin y
. Find df, d2 f and df (π, 1), d2 f (π, 1).

Problem 15. Find all relative extrema and saddle points of the function
y2
(a) z = x + 4x
+ y1 .

(b) z = x4 + y 4 + 4xy.

3
Problem 16. Let z = f (x, y) = 4x2 + y 2 − 4mx − 2my + 2m2 + 2m + Γ, where m ∈ R is a
parameter. Determine m such that the global minimum value of f is at least 3.

C(Q)
Problem 17. The cost function is C(Q), where Q is the level of output. Let C(q) = Q

denote the average cost function with respect to q. Given that when Q = 10, the elasticity of
cost with respect to Q is and the average cost is 40, calculate the marginal cost with respect
to Q when Q = 10.

Problem 18. Suppose the production cost function of a firm is C = C(Q), where is the
C(Q)
output level. It is known that the average cost C(Q) = achieves its minimum value of
Q
25000 + Γ when Q = Q0 = 500. Determine the marginal cost at Q0 .

Problem 19. A factory produces a product using raw material in the form of steel. The
production function is given by Q = (1 + Γ)x2/3 y 1/3 , where x is the number of labor hours
and y is the amount of steel used (in tons). When x = 8 and y = 125, by approximately how
much does the production change if:

(a) an additional hour of labor is added while the amount of steel remains unchanged;

(b) the amount of steel decreases by 6% while the number of labor hours remains un-
changed.

Problem 20. A firm has a production function Q(x, y) = (1 + Γ)x1/2 y 1/3 , where x and
y represent the quantities of the first and second inputs, respectively. Let εx Q(x0 , y0 ) and
εy Q(x0 , y0 ) denote the elasticities of Q with respect to x and y at the point (x0 , y0 ), respec-
tively. Calculate εx Q(27, 4), εy Q(27, 4), and explain the meaning of these values.

Problem 21. A monopolistic company produces two types of products with demand func-
tions given by
QD1 = 500 − P1 + P2 , QD2 = 2000 + P1 − 2P2 ,

where P1 and P2 are the prices of the two products. The cost function is:

C(Q1 , Q2 ) = Q21 + Q1 Q2 + Q22 ,

where Q1 and Q2 are the output of the two products. Determine Q1 and Q2 that maximize
the company’s profit.

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 √
Problem 22. A firm has the production function is Q(L, K) = LK. Assume the firm
must produce Q0 = 1000 units of output, determine the amount of labor L and capital K
to minimize the cost:
C(L, K) = wL + rK,

where w = 400 is the wage per unit of labor, and r = 0.01 is the interest rate on borrowed
capital.

Problem 23. A factory produces a type of product using a single input material A. If ℓ
represents the number of labor hours and k represents the number of units of material A
used, the estimated output is given by:

Q(ℓ, k) = 12ℓ + 20k − ℓ2 − 2k 2 .

The cost per labor hour is 4, and the cost per unit of material A is 8. With a total budget
of 88, determine ℓ and k to maximize the output.

Problem 24. Solve the following differential equations

y
(a) y ′ = x ln x
+ x ln x with the initial condition y(e) = Γ.
p
(b) x 3 1 + Γ − y 3 dx + e2x y 2 dy = 0.

(c) y ′ = x sin 2x
y ln y
.

y x2
(d) y ′ = x
+ y2
with the initial condition y(1) = Γ.

Problem 25. Solve the following differential equations

(a) y ′′ + (1 + Γ)y ′ = cos 2x with the initial condition y(0) = y ′ (0) = 1.

(b) y ′′ − 2y ′ + y ′ = ex (x + Γ).

(c) y ′′ − 3y ′ + 2y = (x2 + Γ)e3x .