Business
Business, 07.07.2021 18:00, rireneb

3. The demand for good 1 is e1- ap1 + bp2 and the demand for good 2 is ez + cp1- dp2; the supply of good i is si. Here a, b, c, d, ei , and si are all positive, and si > ei. a) What system of equations do you get when you set supply equal to demand in both markets? [5 marks] b) What criterion must be met to solve for p1 and p2? [5 marks] c) What additional conditions must be satisfied to get positive equilibrium prices pi? [5 marks]​

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3. The demand for good 1 is e1- ap1 + bp2 and the demand for good 2 is ez + cp1- dp2; the supply of...

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