UNSOLVED ECO406 Assignment 1 Solution and Discussion

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SEMESTER FALL 2019
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:
4x5 10x10 
8x3 20x4

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