Question
The supply and demand (market) price model for a good is as follows: Qd=a-P, Qd=Qs, Qs=-1+sP write a linear equation scheme representing this model using
The supply and demand (market) price model for a good is as follows: Qd=a-P, Qd=Qs, Qs=-1+sP write a linear equation scheme representing this model using coefficient matrix 3 3 series A. (Do not change the order of the fasts, order the variables in order of price, demand, and supply so that the diagonal elements of the coefficient matrix are all equal to 1) Find the matrix of 3 3 coefficient matrix A in this model. Then write the inverse of A using a matrix of 9 asteroids of 2 2 dimensions. Find the solution of this model using the inverse matrix obtained. If a = 20, s = 6, calculate the balanced price and supply and demand
() . Qd=a-P, Qd=Qs , Qs=-1+sP 3 3 A . ( , , , 1 .) 3 3 A . A 2 2 9 . ( .) . a=20, s=6 .
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