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Economic Analysis Math Problem Set

1. This document provides details for Problem Set 2 in a mathematical methods course, which is due on November 3rd, 2011. 2. It lists 4 exercises for students to complete alone, with each correct answer earning 2/3 of a point. 3. The exercises include finding the best affine approximation of a function, using the chain rule to find a derivative, solving an exercise from a textbook, and writing the ratio of partial derivatives for a CES production function.

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Hamid Reza Oskorouchi
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3 views1 page

Economic Analysis Math Problem Set

1. This document provides details for Problem Set 2 in a mathematical methods course, which is due on November 3rd, 2011. 2. It lists 4 exercises for students to complete alone, with each correct answer earning 2/3 of a point. 3. The exercises include finding the best affine approximation of a function, using the chain rule to find a derivative, solving an exercise from a textbook, and writing the ratio of partial derivatives for a CES production function.

Uploaded by

Hamid Reza Oskorouchi
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Problem set n.

2
Mathematical methods for economic analysis CLM in Development Economics

Given Monday, Oct. 31 (2011), due Thursday, Nov. 3 at 12 am

Exercises. (Try working alone!).


Each correct answer gives 2/3 of a point.

1. Find the best ane approiximation (i.e. the equation of the tangent hyperplan) for the function f (x1 , x2 , x3 ) = x2 log(x1 + x2 + ex3 ) 1 2 at the point X = (1, 0, 0). 2. Use the Chain rule to nd the derivative Dh(, y ) of h = g f at the point x (, y ) = (1, 1), where x f (x, y) = (3x2 + 3xy, . 3. Exercise 56 page 72 of Sundarams book (end of Ch. 1). Notice: two-sided means that the appropriate limit exists both for t 0+ and t 0 . 4. Write the ratio between the partial derivatives of the CES (constant elash ticity of substitution) production function g(x1 , x2 ) = k(c1 xa +c2 xa ) a 1 2 assuming all parameters are positive. log x ) g(x, y) = exy + log(1 + xy) y

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