Please See Attachment for clarity – All work/steps to solution must be shown

1. Simplify the following expression so that it contains only a single exponent of x [8 points]

1. Differentiate the following function with respect to x [8 points]:

1. Evaluate the derivative ofat x = 2 [8 points].

1. [8 points] Find Y* (equilibrium output) from the following [Hint: Y=(Y^1/2)²]:

1. [8 points] Find the maximum profit and the quantity (Q) that will maximize the profit function below.Show evidence that profit is indeed maximized:

• [8 points] Find the price elasticity of demand of the following:
• [8 points total] Find the derivatives of the following by first taking the natural logs:
• [ points] Given the following matrices:
• [8 points]Assume a stock price is a positive function of earnings per share [E], a negative function of bond interest rate [i], and a positive function of inflation [π] and GDP [Y].The function is denoted:S = S(E, i, π, Y).To complicate matters GDP is a negative function of bond interest rate.Write the total differential equation.What can you say about the total derivative of S with respect to the bond interest rate?

a.

b.

1. [8 points] Find the critical values of the following and use the N^th derivative test to determine if the values determine a maximum, minimum or inflection point.

1. [8 points] Find the values of x, y and that maximize the following utility function subject to the budget constraint: ;

Find, or if it does not exist state that it does not exist:

• [2 points] AD’
• [2 points] D’C
• [2 points] E’D
• [2 points] FB’
• [2 points] A^-1C
• [2 points] B^–1

1. [8 points] Consider the following system of equations:

Find x₁ using Cramer’s rule.