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CHAPTER 6 VERY IMPORTANT TOP 5 MARKS, 3 MARKS, 2 MARKS
11th Standard
Business Maths and Statistics

TOP 15- 2 Marks 15 x 2 = 30

1)
The total cost function for the production of x units of an item is given by
C(x) = 13 x3 + 4x2 − 25x + 7. Find
(i) Average cost function
(ii) Average variable cost function
(iii) Average fixed cost function
(iv) Marginal cost function and
(v) Marginal Average cost function
2)
Find the elasticity of supply for the supply function x = 2p2 - 5p + 1, p > 3.
3)
A demand function is given by xpn = k where n and k are constants. Prove that elasticity of
demand is always constant.
4)
For the function y = x3 +19 find the values of x when its marginal value is equal to 27.
5) 4
The demand function for a commodity is p = x, where p is unit price. Find the
instantaneous rate of change of demand with respect to price at p = 4. Also interpret
your result.
6) A firm produces x tonnes of output at a total cost of C(x) = 1 3
x - 4x2 - 20x + 7 find the
10
(i) average cost function
(ii) average variable cost function
(iii) average fixed cost function
(iv) marginal cost function and
(v) marginal average cost function.
7) x
If the demand law is given by p = 10e− 2 then find the elasticity of demand.
8)
Find the elasticity of demand in terms of x for the following demand laws and also find the
output (x), when the elasticity is equal to unity.
(i) p = (a - bx)2
(ii) p = a - bx2
9)
Show that the function f(x) = x3 − 3x2 + 4x, x ∈ R is strictly increasing function on R.
10)
Find the stationary value and the stationary points f(x) = x2 + 2x – 5.
11)
The profit function of a firm in producing x units of a product is given by
3
p(x) = x3 + x2 + x. Check whether the firm is running a profitable business or not.
12)
A television manufacturer finds that the total cost for the production and marketing of x
number of television sets is C(x) = 300x2 + 4200x + 13,500 . If each product is sold for Rs.
8,400, show that the profit of the company is increasing.
13)
A tour operator charges Rupees 136 per passenger with a discount of 40 paisa for each
passenger in excess of 100. The operator requires at least 100 passengers to operate the
tour. Determine the number of passenger that will maximize the amount of money the tour
operator receives.
14)
The total cost function for the production of x units of an item is given by c = 10 - 4x3 +
3x4 find the (i) average cost function (ii) marginal cost function (iii) marginal average cost
fuction.
15)
Find out the elasticity of demand for the following functions
(i) p = xex
(ii) p = xe-x
x
(iii) p = 10e− 3
TOP 30 - 3 Marks 30 x 3 = 90
16)
The total cost C in Rupees of making x units of product is C(x) = 50 + 4x + 3√x. Find the
marginal cost of the product at 9 units of output.
17)
Find the equilibrium price and equilibrium quantity for the following demand and supply
functions
Demand: x − 12 (5 − p) and Supply : x = 2p – 3

18) For the demand function x = 20

p > 0, find the elasticity of demand with respect to price
p+1
at a point p = 3. Examine whether the demand is elastic at p = 3.
19) If y =
2x+1
then, obtain the value of elasticity at x = 1.
3x+2

20)
For the given demand function p = 40 – x, find the value of the output when ηd = 1
21) 1
Find the elasticity of demand in terms of x for the demand law p = (a − bx) . Also find the 2

values of x when elasticity of demand is unity.

22) Find the elasticity of supply for the supply law x =
p
when p = 20 and interpret your
p+5
result.
23)
For the cost function C = 2x ( x+5
x+2
) + 7, prove that marginal cost (MC) falls continuously
as the output x increases.
24) 100
C̄ = 0.05x2 + 16 + x is the manufacturer’s average cost function. What is the marginal
cost when 50 units are produced and interpret your result.
25) The total cost of x units of output of a firm is given by c = 2
x + 35
find the
3 2
(i) cost, when output is 4 units
(ii) average cost, when output is 10 units
(iii) marginal cost, when output is 3 units
26)
Find the elasticity of supply for the supply function x = 2p2 +5 when p = 3
27) −−−−
The supply function of certain goods is given by x = a√p − b where p is unit price, a and
b are constants with p > b Find the elasticity of supply at p = 2b.
28) For the demand function x = 25
,1 ≤ p ≤ 5, determine the elasticity of demand
p4
29) The demand function of a commodity is p = 200 - x
and its cost is C = 40x +
100
12000 where p is a unit price in rupees and x is the number of units produced and sold.
Determine (i) profit function (ii) average profit at an output of 10 units (iii) marginal profit
at an output of 10 units and (iv) marginal average profit at an output of 10 units.
30)
Find the values of x, when the marginal function of y = x3 + 10x2 - 48x + 8 is twice the x.
31)
The total cost function y for x units is given by y = 3x ( x+7
x+5
) + 5 .Show that the marginal
cost decreases continuously as the output increases.
32)
Find the price elasticity of demand for the demand function x = 10 – p where x is the
demand and p i the price. Examine whether the demand is elastic, inelastic or unit elastic
at p = 6.
33)
Find the interval in which the function f(x) = x2 – 4x + 6 is strictly increasing and strictly
decreasing.
34)
Find the stationary values and stationary points for the function f(x) = 2x3 + 9x2 + 12x + 1
35)
For a particular process, the cost function is given by C = 56 - 8x+x2 where C is cost per
unit and x, the number of unit’s produced. Find the minimum value of the cost and the
corresponding number of units to be produced.
36)
The average cost function associated with producing and marketing x units of an item is
given by AC = 2x - 11+ 50
x . Find the range of values of the output x, for which AC is
increasing.
37)
A manufacturing company has a contract to supply 4000 units of an item per year at
uniform rate. The storage cost per unit per year amounts to Rs. 50 and the set up cost per
production run is Rs. 160. If the production run can be started instantaneously and
shortages are not permitted, determine the number of units which should be produced per
run to minimize the total cost.
38) If u = x2(y–x) + y2 (x–y), then show that ∂u
+ ∂u
= −2(x − y)2
∂x ∂y

39) ∂ 2u ∂ 2u
If u = log(x2+y2), then show that + =0
∂x 2 ∂y 2

40) ∂ 2u ∂ 2u
Let u = x cos y + y cos x. Verify ∂x∂y
+ ∂y∂x

41)
Find the marginal productivities of capital (K) and labour (L) if p = 10L + 0.1L2 +5K -
0.3k2 + 4KL when k = L = 10
42)
The production function for a commodity is P = 10L + 0.1 L2 +15K-0.2K2 +2KL where L is
labour and K is Capital.
(i) Calculate the marginal products of two inputs when 10 units of each of labour and
Capital are used
(ii) If 10 units of capital are used, what is the upper limit for use of labour which a rational
producer will never exceed?
43)
Find the marginal productivities of capital (K) and labour (L) if p = 8L - 2k + 3k2 - 2L2 +
7KL when k = 3 and L = 1
44)
If the production of a firm is given by p = 4LK - L2 + K2, L > 0, K > 0, prove that
∂p ∂p
L ∂L + k ∂k = 2p
45)
If the production function is z = 3x2 - 4xy + 3y2 where x is the labour and y is the capital,
find the marginal productivities of x and y when x = 1, y = 2.
TOP 25- 5 Marks 25 x 5 = 125
46)
Verify the relationship of elasticity of demand, average revenue and marginal revenue for
the demand law p = 50 - 3x.
47)
The demand and the cost function of a firm are p = 497 - 0.2x and C = 25x +10000
respectively. Find the output level and price at which the profit is maximum
48) The cost function of a firm is C = 1 3
− 3x2 + 9x. Find the level of output (x > 0) when
3
x
average cost is minimum.
49)
Show that MR = p [1 − 1
nd
] for the demand function p = 400 - 2x - 3x2 where p is unit price
and x is quantity demand
50)
Find the intervals in which the function f given by f(x) = 4x3 – 6x2 – 72x + 30 is increasing
or decreasing.
51)
Find the extremum values of the function f(x) = 2x3 + 3x2 – 12x.
52)
Find the absolute (global) maximum and absolute minimum of the function
f(x) = 3x5 – 25x3 + 60x + 1 in the interval [–2,1]
53)
The manufacturing cost of an item consists of Rs. 1,600 as over head material cost Rs.30
per item and the labour cost Rs .( 100 ) for x items produced. Find how many items be
x 2

produced to have the minimum average cost.

54) A monopolist has a demand curve x = 106 – 2p and average cost curve AC = 5 + x
where p
50
is the price per unit output and x is the number of units of output. If the total revenue is R
= px, determine the most profitable output and the maximum profit.
55)
Find the local minimum and local maximum of y = 2x3 - 3x2 - 36x + 10.
56) 2 1 4
The total revenue function for a commodity is R = 15x + x3 − 36
x . Show that at the highest
point average revenue is equal to the marginal revenue.
57)
A company uses 48000 units/year of a raw material costing Rs. 2.5 per unit. Placing each
order costs Rs. 45 and the carrying cost is 10.8 % per year of the average inventory. Find
the EOQ, total number of orders per year and time between each order. Also verify that at
EOQ carrying cost is equal to ordering cost.
58)
A manufacturer has to supply 12,000 units of a product per year to his customer. The
ordering cost (C3) is Rs. 100 per order and carrying cost is Rs. 0.80 per item per month.
Assuming there is no shortage cost and the replacement is instantaneous, determine the
(i) economic order quantity
(ii) time between orders
(iii) number of orders per year
59)
The following table gives the annual demand and unit price of 3 items
ANNUAL
UNIT
ITEMS DEMAND
PRICE RS
(UNITS)
A 800 0.02
B 400 1.00
C 13,800 0.20
Ordering cost is Rs. 5 per order and holding cost is 10% of unit price.
Determine the following:
(i) EOQ in units
(ii) Minimum average cost
(iii) EOQ in rupees
(iv) EOQ in years of supply
(v) Number of orders per year.
60)
A dealer has to supply his customer with 400 units of a product per every week. The dealer
gets the product from the manufacturer at a cost of Rs. 50 per unit. The cost of ordering
from the manufacturers in Rs. 75 per order. The cost of holding inventory is 7.5 % per year
of the product cost. Find (i) EOQ (ii) Total optimum cost.
61) ∂ 2u ∂ 2u
If u = xy + sin(xy), then show that ∂x∂y
= ∂y∂x

62) x4 +y 4 ∂u ∂u
Let u = log x+y . By using Euler’s theorem show that x. ∂x
+ y. ∂y
=3.

63) ∂ 2u ∂ 2u
If u = exy , then show that + = u(x2 + y 2 )
∂x 2 ∂y 2

64)
let u = x2y3 cos ( xy ) by using Euler’s theorem show that x.
∂u ∂u
∂x
+ y. ∂y
= 5u

65) 3 1
For the production function P = 4L 4 K 4 verify Euler’s theorem.
66)
For the production function P = 3(L)0.4 (K)0.6, find the marginal productivities of labour (L)
and capital (K) when L = 10 and K = 6. [use; (0.6)0.6 = 0.736, (1.67)0.4 = 1.2267]
67) Eq
The demand for a quantity A is q = 13 - 2P1 - 3p22 . Find the partial elasticities Ep1
and
Eq
Ep2
when P1 = P2 = 2

68)
The demand for a commodity A is q = 80 - p21 + 5p2 - p1p2. Find the partial elasticities
Eq
Eq
Ep1
and Ep2
when p1 = 2, p2 = 1.

69) x4 −y 4
Let u = log x−y . Using Euler’s theorem show that x ∂u
∂x
+ y ∂u
∂y
=3

70) Verify Euler’s theorem for the function u = 1

√ +y 2
x2

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