MATHEMATICAL ECONOMICS (ECO406)

ASSIGNMENT NO.1

DUE DATE: 27TH NOVEMBER, 2019 MARKS: 10

Question No.1:

A linear function is one in which the power of an independent variable is equal to one. Given below are the prices and quantity demanded exhibiting a linear function.

P 250 50 Q 20 60

Derive the linear equation of demand function by using the values given in the above table.

(Marks: 5) Solve the following equation and find the value of unknown(X).

(Marks: 5)

Question No.2:

4x5 10x10

8x3 20x4

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