Intermediate Math for Economics 2014-15 Quiz I Intermediate Math for Economics 2014-15

Preparation Write your name and NIM Closed your book No cheating Time 30 minutes 1/17/2019

Grade Right Number Wrong Number Grade 3 D 1 2 C B A 1/17/2019

No. 1 Given the demand function P = 200 − Q calculate the price elasticity of demand when the price is 30 Is the demand inelastic, unit elastic or elastic at these prices? 1/17/2019

No. 2 Determine the elasticity of demand when the price falls from 190 to 183, given the demand function P = 400 − Q2 1/17/2019

No. 3 Given the supply function P = 30 + Q find the price elasticity of supply averaged along an arc between Q = 100 and Q = 105 1/17/2019

Stop !! 1/17/2019

JAWABAN SOAL NO.1 P = 200 – Q P – 200 = - Q Q = 200 – P E = -P/Q x dQ/dP E = -30/170 x (-1) E = 0,17 Karena E kurang dari 1 maka inelastic. 1/17/2019

JAWABAN SOAL NO.2 P1 = 190 P2 = 183 P = 400 – Q2 190 = 400 – Q2 Q2 = 400 -190 Q2 = 210 Q1 = 14,50 Q2 = 400 -183 Q2 = 217 Q2 = 14,73 dP = 183 – 190 dP = -7 dQ = 14,73 – 14,50 dQ = 0,23 P = ½ (190+183) P = 186,5 Q = ½ (14,50+14,73) Q = 14,6 E = -P/Q x dQ/dP E = 0,42 (inelastic) 1/17/2019

JAWABAN SOAL NO.3 P = 30 + Q Q1 = 100 Q2 = 105 P1 = 30 + 100 P1 = 130 P2 = 30 + 105 P2 = 135 dP = 5 dQ = 5 P = 132,5 Q = 102,5 E = P/Q x dQ/dP E = 1,29 (elastis) 1/17/2019