9. (Ihis problem uses the values A and F from your cover sheet)
Consider the demand function
Whereu is the number of units demanded and pis the price per unil.
Find the elasticity of demand when units.
Round to three decimal points.
10. (This problem uses the values A, C and F from your cover sheel)
Let q be the number of units demanded and let pbe the prive per unit. Consider the demand
function and supply function before taxation:
Find the tax peritem that will maximize the total tax revenue. State the price per unil, the
quantity demanded the tax per unit and the total tax revenue. Round to twio decimals.
12. (Ihis problem uses the value I) from your cover sheet)
Consider the functions j=/-1A and y=3x2-Da+10.
Find the area between the above two curves in the Interval (1,2).
13. (Ihis problem uses the values A and F from your cover sheet)
Suppose the demand runction IS
Wheren is the prico por unit and xis the quantity demanded
Suppose that the equillindum quantity is 10 units.
a) Find the equilibrium price.
bj ind the consumer's surplis.
14. (Ihis problem uses the values C and E from your cover sheet)
A developer would like to horrow money from a bank In order to bulld a hullding with 30 units.
The bullding will be ready 3 years from today. He all pledge the Income stream he will collect
and pay off the loan 10 years from today. Ho will collect a monthly rent of (1000-C) dollars from
each unil. Assurning that the annual interest rate is (3+E/100) % calculate the present value of
this continuous Income stream from the time he starts collecting rent until he pays off the loan.
Also, find the tuture value of this Income stream 12 years from now. Hound to the nearest dollar.
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