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4. Price Dynamics: Establish a difference equation for following price dynamics model. Find the equilibrium price. Does the price converge to equilibrium in long run?

4. Price Dynamics: Establish a difference equation for following price dynamics model. Find the equilibrium price. Does the price converge to equilibrium in long run? Does it exhibit oscillations? Sketch time graph of price with EXCEL

= 10

= + + = + , ( ) =

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