using linear algebra calculate the equilibrium P₁,P₂,P₃ for the following three good market model.

(1) Qs1=-7+P1

(2) Qd1=15-P1+2P2+P3

(3) Qs1=Qd1

(4) Qs2=-4+4P2

(5) Qd2=9+P1-P2-P3

(6) Qs2=Qd2

(7) Qs3=-5+2P3

(8) Qd3= 8+2P1-P2-4P3

(9) Qs3=Qd3

 

Posted Date: 2/19/2013 7:42:52 AM | Location : United States

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