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3 - Let the demand and supply be ed = a - bP - y, Qs = SP , which of the following is the

3 - Let the demand and supply be ed = a - bP - y, Qs = SP , which of the following is the time path P(t)? (Assume (a, b, y, 6) > 0 and market is cleared.) Which of the following is true? a) O This is not a dynamic model. b) This market has a dynamically unstable intertemporal equilibrium price. c) O This market has a dynamically stable intertemporal equilibrium price. d) O This market does not have an intertemporal equilibrium price. Bos birak

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