1 answer

Pcoer IS approximately ES0 2. Consider the following model of Supply and Demand. where P is...

Question:

Pcoer IS approximately ES0 2. Consider the following model of Supply and Demand. where P is the price of the good, Q is quantity demanded and QS is quantity supplied. (i) what condition should δ satisfy in order for the second equation to be a reasonable supply function. (ii) What condition should B and 6 satisfy in order for this system to have a unique equilibrium. Ģi Assuming a unique equilibrium exists express the system in matrix form and use matrix algebra to find the equilibrium values of Q and P Using calculus derive an expression for how the equilibrium price changes when the supply curve shifts (iv)

Pcoer IS approximately ES0 2. Consider the following model of Supply and Demand. where P is the price of the good, Q is quantity demanded and QS is quantity supplied. (i) what condition should δ satisfy in order for the second equation to be a reasonable supply function. (ii) What condition should B and 6 satisfy in order for this system to have a unique equilibrium. Ģi Assuming a unique equilibrium exists express the system in matrix form and use matrix algebra to find the equilibrium values of Q and P Using calculus derive an expression for how the equilibrium price changes when the supply curve shifts (iv)

Answers

sloping d p AX = B NOw

.

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