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Solve the model for both equilibrium prices and both equilibrium quantities. Numerical example of 2-good market model. Model: Qdl 10-2P1 + P2 -2 + 3P1

Solve the model for both equilibrium prices and both equilibrium quantities.

Numerical example of 2-good market model. Model: Qdl 10-2P1 + P2 -2 + 3P1 Qdl - QI Qd2 154% -P2 1+2P2 Qd2 Qs2 Practice: . Which equations in the model are equilibrium conditions? Behavioural eq uations? 2. How many endogenous variables are there in the model? 3. Solve the model.

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