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I am stuck on this question and can't find very many notes to help. 4. Suppose that the demand for steel in Japan is given

I am stuck on this question and can't find very many notes to help.

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4. Suppose that the demand for steel in Japan is given by the equation Q? = 1000 2P5 + PA + PT, where Q s is the quantity of steel purchased (millions of tons per year), PS is the price of steel (yen per ton), PA is the price of aluminum (yen per ton), and PT is the price of titanium (yen per ton). The supply curve for steel is given by Q39 = 2P3. Similarly, the demand and supply curves for aluminum and for titanium are given by Q} = 1000 ZPA + PS + PT (demand curve for aluminum), Qf, = ZPA (supply curve for aluminum), Q% = 1000 ZPT + PS + PA (demand curve for titanium), and Q? = ZPT (supply curve for titanium). a) Find the equilibrium prices of steel, aluminum, and titanium in Japan. b) Suppose that a technology growth in the Japanese steel industry shifts the supply curve for steel to Q = 4P5. What does this do to the prices of steel, aluminum, and titanium? Find the new equilibrium prices of steel, aluminum, and titanium in Japan. 0) Suppose that growth in the Japanese beer industry, a big buyer of aluminum cans, fuels an increase in the demand for aluminum so that the demand curve for aluminum becomes Q? = 1300 2PA + PS + PT. How does this affect the prices of steel, aluminum, and titanium from part (a)? Find the new equilibrium prices of steel, aluminum, and titanium in Japan

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