MATH 1009-A TEST 1: Solutions January 2011

PART A: MULTIPLE CHOICE QUESTIONS.

A1. The domain of the function )(r) =

r 9 is
(a) [3. 3], or, equivalently, {3 r 3}.
(b) (9. ), or, equivalently, {r 9}.
(c) [9. ), or, equivalently, {r 9}.
(d) (. 9], or, equivalently, {r 9}.
(e) none of the above.
Answer: (c)
A2. If )(r) = 2

r + 1 and p(r) = r
3
+ 2, then )(p(r)) is
(a) 2

r
3
+ 2 + 1. (b) (2

r + 1)
3
+ 2. (c) r
3
+ 2

r + 3.
(d) 2r
3

r + 2. (e) none of the above.

Answer: (a)
A3. The expression (5
2/3
5
2
)
3/4
evaluates to
(a) 5. (b) 5. (c)
1
5
. (d)
1
5
. (e) None of the above.
Answer: (b)
A4. The domain of the function )(r) = ln(r + 1) is
(a) [1. ), or, equivalently, {r 1}.
(b) (1. ), or, equivalently, {r 1}.
(c) , or, equivalently, (. ).
(d) (1. ), or, equivalently, {r 1}.
(e) [1. ), or, equivalently, {r 1}.
Answer: (d)
A5. The expression
c
1.2
(c
0.1
)
2
c
5
simplies to
(a) c
4.3
. (b) c
5.7
. (c) c
4
. (d) c
5
. (e) c
6
.
Answer: (e)
A6. The expression (8r
3

6
)
1/3
simplies to
(a) 2r
2
. (b) 2r
2
. (c)
8r
3

6
3
. (d) 8r
2
. (e) None of the above.
Answer: (b)
A7. The expression log
3
1
3
evaluates to
(a) 1. (b) 1. (c) 2. (d) 3. (e) None of the above.
Answer: (a)
A8. Write the expression (ln 2 +
1
3
ln r 2 ln ) as the logarithm of a single quantity.
(a) ln
(
r
3
)
. (b) ln
(
2r
1/3

2
)
. (c) ln
(
2 +
r
3
2
)
. (d) log
2
(
2r
1/3

2
)
.
(e) None of the above.
Answer: (b)

PART B: LONG STYLE QUESTIONS.

[6 marks] B1. The weekly demand and supply equations for a company are given by
j = 68 r
2
and j = 14 +
1
2
r
2
, respectively, where j is the price measured in dollars and r is
measured in units of a thousand.
[2] (a) For the demand equation j = 68 r
2
, determine the quantity demanded, when the
price is set at 4 dollars.
4 = 68 r
2
. r
2
= 64. r = 8.
We reject the negative root r = 8, since only positive values of the quantity demanded are
meaningful.
[1] (b) For the supply equation j = 14 +
1
2
r
2
, determine the price at which the supplier will
make 2 thousand units available in the market.
j = 14 +
1
2
2
2
= 14 + 2 = 16.
[3] (c) Find the equilibrium quantity and price.
At the equilibrium point the supply is equal to the demand, and therefore
68 r
2
= 14 +
1
2
r
2
.
Solving this equation for r yields
3
2
r
2
= 68 14 = 54. r
2
= 36. r = 6. (We reject
the negative root r = 6, since positive values of r demanded are meaningful.) Thus, the
equilibrium quantity is 6 thousand units, and the corresponding price is j = 68 6
2
= 32
dollars per unit.
[11 marks] B2. Solve each of the following equations for r.
[4] (a) c
1
= 5 [3] (b) log
2
(2r 5) = 0 [4] (c) ln r + ln 6 ln 2 = 2
Solution:
NOTE: There is more than one way of solving each of the equations.
(a) Take the natural logarithm of both sides of the equation and use the laws of logarithms:
ln(c
1
) = ln 5 1 r = ln 5 r = ln 5 1 r = 1 ln 5.
(b) Since the logarithm equals zero, the argument must be equal to 1:
2r 5 = 1 2r = 6 r = 3.
(c) Simplify the LHS of the equation and then exponentiate both sides of the relation:
ln
(
r 6
2
)
= 2 ln(3r) = 2 c
ln(3)
= c
2
3r = c
2
r = c
2
,3.
[7 marks] B3. The amount of $20. 000 is deposited in a bank that pays interest at the rate
of 6% per year compounded semiannually. Using the compound interest formula
(t) = 1
(
1 +
:
:
)

.
answer the following questions. (Round each answer to one decimal.)
[2] (a) What is the accumulated amount on deposit in 5 years?
(5) = 20. 000
(
1 +
0.06
2
)
25
= 20. 000(1.03)
10
= 26. 878.3
[1] (b) What is the interest earned in 5 years?
Interest 1(5) = (5) 1 = 26. 878.3 20. 000 = 6. 878.3
[4] (c) How long will it take to double the investment?
40. 000 = 20. 000
(
1 +
0.06
2
)
2
2 = (1.03)
2
ln 2 = 2t ln(1.03) t =
ln 2
2 ln 1.03
= 11.7