Mathematics for economists UE Past Papers Questions.

Use the rules of log to express each of the following as a single logarithm

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In a model   where Y is percentage of households possessing power tiller, t is years after they have been introduced in Morogoro region. Find the percentage of households that have power tiller

1. At their launch
2. After 10 years
3. After 20 years
4. After 30 years
5. What is the market saturation rate
6. Sketch a graph of y against t and hence give a qualitative description of power tiller ownership over time.

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1. What is arc elasticity?
2. Given the demand function Q=500-3P-2Ps+0.01Y where Q is quantity demanded, P is price of good, Ps is price of another good and Y is income. Where P=20, Ps=30 and Y=5000. Find

1. The price elasticity of demand
2. The cross-price elasticity of demand
3. The income elasticity of demand
4. If income rises by 5%, calculate the corresponding percentage change in demand
5. What is the nature of good demanded.

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