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(Answer ALL questions) 1. If market demand is given by p = 370 + 2.54 while market supply curve is given by p = 220 + 9'2 nd the market clearing values of price and quantity. 2. (a) Sketch the quartic equation y = 2:4 22:1:2 + 2000 and interpret the nature of the path of the quartic function, just you sketched. (b) Sketch the cubic function y = 3:3 7.132 10:1: and describe the characteristics of the function. 3. Find the derivatives of the following functions. (a) at) = 0.5/:cm. (b) HI) = W'H- 4. For the function given below- z(:r, y) = 311:3 53:2 225: + 703; + 23 (a) nd the critical points (turning points) (b) determine if at these points (turning points) the function is at a relative maximum, relative minimum, inection point, or saddle point. 5. (a) Using Lagrange multiplier nd the maximum value of w = 4112 2110+6U2 subject to n+0 = 72. (b) Estimate the effect on the value of the objective function from a l-unit change in the constant of the constraint. The End! [5] [2.5] [2.5] [2.5] [2.5] [5]