What are equilibrium prices for xaquane-yullare paintings

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Xaquane and Yullare are obscure but talented 18th century painters. The world’s stock of Xaquanes is 100 and the world’s stock of Yullares is 70. The demand for each painter’s work depends on its own price and the price of the other painter’s work. If px is the price of Xaquanes and py is the price of Yullares, the demand function for Xaquanes is 101−3px+ 2py and the demand function for Yullares is 72+px−py. What are the equilibrium prices for Xaquane’s and Yullare’s paintings?

Reference no: EM13896576

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