UMD ECON 300 - Problem Set 3 Solution - D3505766

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UMD ECON 300 - Problem Set 3 Solution

School name University of Maryland, College Park

Course Econ 300- Methods and Tools for Economic Analysis

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Problem Set 3 Solution 1. Calculate the following elasticities of ywith respect to x: a. yx at 15x  22,1yxdy x xdx y x    b. 2y bx at 5x  2,22yxdy x xbxdx y bx      c. lnyx at 7x  ,71 1 1ln( ) ln( ) ln(7)yxxdy x xdx y x x x      2. Calculate the appropriate derivatives for the following functions: a. ( , , )yzf x y zx, calculate fx 2f yzxx b. ()( , , )xyzf x y z e, calculate 2fxy 22xyzxyz xyzfxzeyfxyz e zexy c. 22( , , )f x y z x y z  , calculate 22fx 2222fxxfx 3. Calculate the following derivativeyx for the following function: 2( , ) ln( )f x y x y x   22221( 2 )1xdfdyxydxx y xdfdxdx x y      

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