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a)What is a simultaneous equation model? b)What is the main problem of a simultaneous equation model? c)Discuss the structural form and the reduced form of

a)What is a simultaneous equation model?

b)What is the main problem of a simultaneous equation model?

c)Discuss the structural form and the reduced form of a model?

d) Which techniques can be used to solve for the structural-form when only the reduced-form model is available? What are the conditions?

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