Math for economyMM1005

How to find your way

  1. 1Search for the word that confuses you — the box at the top searches the whole course.
  2. 2Look it up in Concepts. Every concept links to the section that explains it. Concepts →
  3. 3Read the Watch out and Common error boxes: they show the mistakes that are actually made.
  4. 4Still stuck? Bring the question to the exercise session or send an email.

Lecturer: Eric Ahlqvist, [email protected] · Put “MM1005” in the subject line.

← 5
Lecture 6 Existence, and where to look
7 →
6 Problems

Existence, and where to look

The problems follow the sections of the theory. Those that are checked at once get new numbers each time you press New variant: repeat them until the method runs by itself. Those with a solution are for paper. Write the whole solution before you open it, then compare line by line. Last come problems in the form of the exam, with points and a marking guide.

Typing an answer. Put a denominator with more than one factor in brackets: x/2 + 7/(2x), not x/2 + 7/2x. The preview under the box shows how your answer was read. Look at it before you press Check. Several numbers are separated by semicolons: -3; 4.

●○○ Basic●●○ Intermediate●●● Challenge Checked instantlySolution included

A sign change forces a root

Read the theory: 1. A sign change forces a root →
Problem 3●○○ BasicSolution included

For each function, decide whether Fact 6.1 guarantees a root in the given interval, and say why. Then say whether there is a root there.

(a) $f(x)=x^{3}-4x+1$ on $[0,1]$

(b) $g(x)=\dfrac{1}{x-2}$ on $[1,3]$

(c) $h(x)=x^{2}-2x$ on $[-1,3]$

Hint

Fact 6.1 needs two things: continuity on the whole closed interval, and values of opposite signs at the two ends. If either fails, the Fact says nothing — and then you have to look for yourself.

Stuck? Read 1. A sign change forces a root →

Newton's method

Read the theory: 2. Newton's method →
Problem 8●●○ IntermediateSolution included

Newton himself tried his method on the equation $$x^{3}-2x-5=0\,.$$

(a) Take two steps of Newton's method from $x_{0}=2.$

(b) Show with Fact 6.1 that there is a root between $2.0945$ and $2.0946,$ and conclude what the root is to three decimals.

Hint

In (a), $f'(x)=3x^{2}-2.$ Keep five or six decimals. In (b), compute $f$ at the two numbers: you only need the signs. A sign change is a certificate that no amount of iterating can give on its own.

Stuck? Read 2. Newton's method →
Problem 9●●● ChallengeSolution included

Let $f(x)=\sqrt[3]{x}=x^{1/3},$ whose only root is $x=0.$ Show that Newton's method from any starting point $x_{0}\ne0$ gives $$x_{n}=(-2)^{n}x_{0}\,,$$ so that the iterates run away from the root. Explain in words what the tangents do.

Hint

Compute $f(x)/f'(x)$ for $x\ne0$ first. It simplifies to a multiple of $x.$ Then think about how steep the graph of $\sqrt[3]{x}$ is near $0$ and far from it.

Stuck? Read 2. Newton's method →

Existence again: the extreme value theorem

Read the theory: 3. Existence again: the extreme value theorem →
Problem 11●●○ IntermediateSolution included

For each function and interval, say whether Fact 6.9 guarantees a maximum and a minimum. Then find the maximum and the minimum value where they exist, and say why the others do not exist.

(a) $f(x)=x^{2}$ on $[-1,2]$

(b) $f(x)=x^{2}$ on $(-1,2)$

(c) $g(x)=\dfrac{1}{x}$ on $[1,\infty)$

Hint

Check the three hypotheses: continuous, closed, bounded. A sketch shows what happens near an end that is missing.

Stuck? Read 3. Existence again: the extreme value theorem →

Where to look

Read the theory: 4. Where to look →

Three kinds of candidate

Read the theory: 5. Three kinds of candidate →
Problem 18●●○ IntermediateSolution included

Find the largest and the smallest value of $$f(x)=|x-1|+\frac{x}{2}$$ on the interval $[-2,3].$

Hint

Write $f$ without the absolute value on each side of $x=1.$ Is there any point where $f'(x)=0?$ Is there a point where $f'$ does not exist? Method 6.15 has three kinds of candidate.

Stuck? Read 5. Three kinds of candidate →

When a candidate is the answer

Read the theory: 6. When a candidate is the answer →
Problem 20●●● ChallengeSolution included

Let $f(x)=\ln x-x+1$ for $x>0.$

(a) Show that $f$ is concave on $(0,\infty),$ and find its maximum point.

(b) Conclude that $\ln x\le x-1$ for every $x>0,$ with equality only at $x=1.$

(c) What does (b) say about the graph of $\ln x$ and its tangent at $x=1?$

Hint

The interval has no endpoints, so look for Fact 6.20 rather than a list of candidates. For “equality only at $x=1$”, look at the sign of $f'$ on each side of $1.$

Stuck? Read 6. When a candidate is the answer →

Mixed, as on the exam

Problem 21●●● ChallengeSolution included

(a) Let $p>0$ and let $q$ be any number. Show that the equation $$x^{3}+px+q=0$$ has exactly one real solution.

(b) Give an example with $p<0$ where the equation has three real solutions. Which step of your argument in (a) fails?

Hint

Two tasks. At most one: the sign of the derivative. At least one: you need a number where the cubic is negative and one where it is positive. Try $M=|q|+1$ and $-M,$ and use $M^{3}\ge M$ for $M\ge1.$

Stuck? Read 1. A sign change forces a root →
Problem 22●●○ IntermediateSolution included

A workshop can produce at most $10$ units a week. Its weekly profit from $Q$ units, for $0\le Q\le10,$ is $$\pi(Q)=30Q-Q^{2}-50\,.$$

(a) Find the output that maximises profit, and the profit.

(b) If the capacity limit were removed, so that every $Q\ge0$ were possible, what would the best output and the profit be? Justify that it is the best.

(c) About how much would one more unit of capacity be worth a week? Compare with the exact gain from $Q=10$ to $Q=11.$

Hint

In (a), Method 6.15: is the stationary point inside the interval? In (b) there is no right end; use Fact 6.20. In (c), the derivative is the profit of one more unit.

Stuck? Read 5. Three kinds of candidate →

As on the exam

3 problems · 23 p

Problems in exam form, with points. Solve them on paper or in the box. Then open the solution one step at a time and mark yourself against the rubric.

Exam problem 110 pComputeModel: 2022-09-28 Q4; 2023-09-25 Q4; final 2026-09-28 Q4 (a)–(b)

A rational function with two parameters: conditions, sign table, extreme points

For real numbers $a$ and $b,$ let $$f(x)=\frac{x^{2}+ax+b}{x-2}\,,\qquad x\ne2\,.$$

  1. (a)

    Find $a$ and $b$ such that $f$ has a stationary point at $x=-1$ with $f(-1)=-1.$

    3 p
  2. (b)

    With these values of $a$ and $b,$ make a sign table for $f'$ and give the intervals on which $f$ is increasing and on which it is decreasing. Find the largest value of $f$ on the interval $(-\infty,2)$ and the smallest value of $f$ on $(2,\infty),$ and the points where they are taken.

    4 p
  3. (c)

    Does $f$ have a maximum point on its whole domain? A minimum point? Justify your answers.

    3 p

The text is stored only in this browser. Nobody marks it for you.

Exam problem 28 pComputeModel: 2022-11-09 Q4; 2019-11-01 Q2; practice exam 1 Q4 (a)–(b)

A cubic with two parameters, then its extremes on a closed interval

For real numbers $a$ and $b,$ let $$f(x)=x^{3}+ax^{2}+bx+7\,.$$

  1. (a)

    Find $a$ and $b$ such that $f$ has a stationary point at $x=3$ with $f(3)=-20.$

    3 p
  2. (b)

    With these values, determine the intervals on which $f$ is increasing and on which it is decreasing.

    2 p
  3. (c)

    Find the largest and the smallest value of $f$ on the interval $[0,5],$ and where they are taken.

    3 p

The text is stored only in this browser. Nobody marks it for you.

Exam problem 35 pProveModel: practice exam 2 Q3 (a), the uniqueness argument

Exactly one solution: the argument behind “the only possible value”

(a) Show that the equation $$e^{y}+y=2$$ has exactly one real solution, and that it lies between $0$ and $1.$

(b) The equation $$x\,e^{y}+3y=2x-1$$ defines $y$ as a differentiable function of $x$ near $x=1.$ Find all possible values of $y(1).$

  1. (a)

    Exactly one solution of $e^{y}+y=2,$ in $(0,1).$

    3 p
  2. (b)

    All possible values of $y(1).$

    2 p

The text is stored only in this browser. Nobody marks it for you.