#### Online Mock Tests

#### Chapters

Chapter 2: Consumption Analysis

Chapter 3: Production Analysis

Chapter 4: Cost and Revenue Analysis

Chapter 5: Market Structure and Pricing

Chapter 6: Distribution Analysis

Chapter 7: Indian Economy

Chapter 8: Indian Economy Before and After Independence

Chapter 9: Development Experiences in India

Chapter 10: Rural Economy

Chapter 11: Tamil Nadu Economy

Chapter 12: Mathematical Methods for Economics

## Solutions for Chapter 12: Mathematical Methods for Economics

Below listed, you can find solutions for Chapter 12 of Tamil Nadu Board of Secondary Education Tamil Nadu Board Samacheer Kalvi for Class 11th Economics Answers Guide.

### Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 12 Mathematical Methods for Economics Model Questions - Part A [Pages 270 - 271]

#### Multiple Choice Questions

Mathematical Economics is the integration of

Mathematics and Economics

Economics and Statistics

Economics and Equations

Graphs and Economics

The construction of demand line or supply line is the result of using

Matrices

Calculus

Algebra

Analytical Geometry

The first person used the mathematics in Economics is

Sir William Petty

Giovanni Ceva

Adam Smith

Irving Fisher

Function with single independent variable is known as

Multivariate Function

Bivariate Function

Univariate Function

Polynomial Function

A statement of equality between two quantities is called

Inequality

Equality

Equations

Functions

An incremental change independent variable with respect to change in the independent variable is known as

Slope

Intercept

Variant

Constant

(y - y_{1} ) = m(x - x_{1} ) gives the

Slope

Straight line

Constant

Curve

Suppose D = 50 - 5P. When D is zero then

P is 10

P is 20

P is 5

P is -10

Suppose D = 150 - 50P. Then, the slope is

-5

50

5

-50

Suppose determinant of a matrix Δ = 0, then the solution

Exists

Does not exist

is infinity

is zero

State of rest is a point termed as

Equilibrium

Non-Equilibrium

Minimum Point

Maximum Point

Differentiation of constant term gives

one

zero

infinity

non-infinity

Differentiation of x^{n} is

nx

^{(n-1)}n x

^{(n+1)}zero

one

Fixed Cost is the ______ term in cost function represented in mathematical form.

Middle

Price

Quantity

Constant

The first differentiation of Total Revenue function gives

Average Revenue

Profit

Marginal Revenue

Zero

The elasticity of demand is the ratio of

Marginal demand function and Revenue function

Marginal demand function to Average demand function

Fixed and variable revenues

Marginal Demand function and Total demand function

If x+y = 5 and x-y= 3 then, Value of x

4

3

16

8

Integration is the reverse process of

Difference

Mixing

Amalgamation

Differentiation

Data processing is done by

PC alone

Calculator alone

Both PC and Calculator

Pen drive

The command Ctrl + M is applied for

Saving

Copying

getting new slide

deleting a slide

### Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 12 Mathematical Methods for Economics Model Questions - Part B [Page 272]

#### Answer the following questions in one or two sentences

If 62 = 34 + 4x what is x?

Given the demand function q = 150 − 3p, derive a function for MR.

Find the average cost function where TC = 60 + 10x +15x^{2}

Suppose the price p and quantity q of a commodity are related by the equation q = 30 - 4p - p2 find

- ed at p = 2
- MR

What is the formula for the elasticity of supply if you know the supply function?

What are the main menus of MS Word?

### Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 12 Mathematical Methods for Economics Model Questions - Part C [Page 272]

#### Answer the following questions in one paragraph

Illustrate the uses of Mathematical Methodsm in Economics.

Solve for x quantity demanded if 16x − 4 = 68 + 7x.

A firm has the revenue function R = 600q - 0.03q^{2} and the cost function is C = 150_{q} + 60,000, where q is the number of units produced. Find AR, AC, MR, and MC.

Solve the following linear equations by using Cramer’s rule.

x_{1} - x_{2} + x_{3} = 2: x_{1} + x_{2} - x_{3} = 0 : -x_{1} - x_{2} - x_{3} = -6

If a firm faces the total cost function TC = 5+ x^{2} where x is output, what is TC when x is 10?

If TC = 2.5q^{3} − 13q^{2} + 50_{q} + 12 derive the MC function and AC function.

What are the steps involved in executing an MS Excel Sheet?

### Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 12 Mathematical Methods for Economics Model Questions - Part D [Page 273]

A Research scholar researching the market for fresh cow milk assumes that Qt= f(Pt, Y, A, N, Pc) where Qt is the quantity of milk demanded, Pt is the price of fresh cow milk, Y is average household income, A is advertising expenditure on processed pocket milk, N is population and Pc is the price of processed pocket milk.

- What does Qt= f (Pt, Y, A, N, Pc) mean in words?
- Identify the independent variables.
- Make up a specific form for this function. (Use your knowledge of Economics to deduce whether the coefficients of the different independent variables should be positive or negative.)

Calculate the elasticity of demand for the demand schedule by using differential calculus method P = 60 − 0.2Q where the price is

- zero,
- ₹20,
- ₹40.

The demand and supply functions are p_{d} =1600 - x^{2} and p_{s} = 2x^{2} + 400 respectively. Find the consumer’s surplus and producer’s surplus at an equilibrium point.

What are the ideas of information and communication technology used in economics?

## Solutions for Chapter 12: Mathematical Methods for Economics

## Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide chapter 12 - Mathematical Methods for Economics

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Concepts covered in Class 11th Economics Answers Guide chapter 12 Mathematical Methods for Economics are Introduction to Mathematical Methods for Economics, Functions of Mathematics, Differential Calculus, Integral Calculus, Information and Communication Technology (ICT), Introduction of Matrices.

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