Let preferences of both individuals be given by log(ci) +log(c₂). Suppose that the endowment vectors are = (5, 10) and B = (10,5). Solve for the market clearing price and the equilibrium consumption bundles of each individual.
Let preferences of both individuals be given by log(ci) +log(c₂). Suppose that the endowment vectors are = (5, 10) and B = (10,5). Solve for the market clearing price and the equilibrium consumption bundles of each individual.
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter4: Eigenvalues And Eigenvectors
Section4.6: Applications And The Perron-frobenius Theorem
Problem 24EQ
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