By Alan J. Mabbett

ISBN-10: 0333388178

ISBN-13: 9780333388174

ISBN-10: 1349078638

ISBN-13: 9781349078639

Aimed toward scholars learning economics, accountancy or enterprise experiences, this publication assumes purely an user-friendly grounding in arithmetic. studying via instance and studying through perform are key positive factors, with the ebook performing as a private coach instead of textbook. all of the major subject matters at the mathematical part of a primary 12 months quantitative path are coated. each one bankruptcy is split into 5 sections; a overview of the most subject material; 4 or 5 general issues of designated solutions; 4 issues of a bit much less special solutions; perform difficulties overlaying the major exam issues and entire solutions to questions. on the finish of the publication there's a component of difficulties compatible for ultimate revision.

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**Additional resources for Work Out Mathematics for Economists**

**Example text**

Hence if the tax is £3 per unit, the new supply function for the firm is given by: Qs Hence, Qs = 2Pr- 16 = 2(P- 3)- 16 = 2P- 6- 16 = 2P- 22 = 2P - 22 ... 4 We are not asked to find the new value of Q, so don't! 2 per unit. The increase is less than the value of the tax. Therefore, only approximately a third of the tax is passed onto the consumer, the rest having to be paid by the supplier. 6Yd Investment: I = 1150- 58i where Yd is disposable income, i is the rate of interest and G is the level of government expenditure.

A firm which specialises in reproduction furniture is at present producing chairs (C) and tables (T). The combinations of tables and chairs that can be produced is represented by the following product transformation curve: 2C 2 + 5C+ 8T= 400. (i) Find the maximum number of each type of furniture it can produce; (ii) If it has an order for five tables, how many chairs can it produce; (iii) Draw a graph of the firm's production curve. 8. 5P = 3000 Because of the range of books the publisher deals with, its supply function for this type of book is given by 1220P = 1129 + 4Qs where P denotes price in £'sand Qd and Qs are the number of books demanded and supplied respectively.

15) I shall now eliminate the variable P2 from equations ( 14) and (15). This will give us one equation in terms of the unknown variable P 3 • Multiplying equation (14) by 2 gives: -332- 18P2 + 106P3 = 0 ... (16) and, multiplying equation (15) by 9 gives: 963 - 18P2 - 153P3 = 0 ... (17) We now have the same coefficient for P2 in equations (16) and (17). Therefore, we can eliminate P2 by subtracting equation (17) from equation (16), to give: -332-963- 18P2 + l8P 2 + 106P3 -1295 + 259P3 = 0 259P3 = 1295 - (-153P3 ) = 0 :.

### Work Out Mathematics for Economists by Alan J. Mabbett

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