Formulate a meaningful specification of the given problem

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Reference no: EM131483927

Question: The traditional components of a stylized and general market equilibrium problem are

(i) final demand functions, p = c - Dx, where D is an asymmetric positive semidefinite matrix;

(ii) total input supply functions, s = b + E y, where E is a symmetric positive semidefinite matrix;

(iii) technologies for the individual sectors, A_k , k = 1, ... , K.

Formulate a meaningful specification of the given problem and provide an economic interpretation of all its components.

Reference no: EM131483927

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