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2. (12 points) Consider the following supply and demand system _1_5 WIN '(8) F, =10_gq A (D) This economy is represented by the matrix equation

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2. (12 points) Consider the following supply and demand system _1_5 WIN '(8) F, =10_gq A (D) This economy is represented by the matrix equation below. Ax=b Where x=[qp], b H '_I So I__: a) (2 points) Fill in the values for A. A=i l b) (3 points) Without solving the system, conrm that the economy has exactly one equilibrium. c) (2 points) Comment on the following solution for the equilibrium. Ax = b AxA\"1 = bA'1 post-multiply by inverse AA'lx : bA'1 rearrange left hand side x = bA'1 cancel out A and A1 d) (5 points) Calculate consumer surplus at the equilibrium

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