Question
With regard to achievement of stability of equilibrium in an isolated market assume that the market for string beans is found to have a lagged
With regard to achievement of stability of equilibrium in an isolated market assume that the market for string beans is found to have a lagged supply response such that the demand and supply function may be written as
Dt = aPt + b
St = AP t-1 + B
Derive the conditions for dynamic stability of equilibrium.
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Business Law
Authors: Henry Cheeseman
8th Edition
0133130649, 9780133130645
