Answered: Example 32. Given the following… | bartleby

Linear Algebra: A Modern Introduction

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 15EQ

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Example 32. Given the following equation for two related markets A and B, find
the equilibrium conditions for each market and the price for each market:
► 15PA
x, (A) = 82 – 3pA
х, (В) %3D 92 + 2pд — 4p;
+ PB
x, (A) = -5 +
x, (B) = -6 + 32P,
B'
where
and
denote quantity demanded and quantity supplied respectively.

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23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes 1/2 of the food and 1/3 of the manufactured goods. Manufacturing consumes 1/2 of the food and 2/3 of the manufactured goods. Assuming the economy is closed and in equilibrium, find the relative outputs of the farming and manufacturing industries.
In Problem 18, find all the critical points for the given system and discuss the stability of the corresponding equilibrium solutions. Please don't answer in handwritten..thanku
The quantity demanded x ( in units of a hundred) of the Mikado mini cam co per week is related to the unit price p ( in dollars) by p = -0.2x^2 + 200 and the quantity x ( in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p( in dollars) by p=0.1x^2 +7x + 100 if the market price is set at the equilibrium price, find the consumers surplus and producers surplus (Round your answers to the nearest dollar)
The quantity demanded x (in units of a hundred) of the Mikado miniature cameras per week is related to the unit price p (in dollars) by p = −0.2x2 + 160 and the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by p = 0.1x2 + 5x + 80. If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. (Round your answers to the nearest dollar.) consumer's surplus $ producer's surplus $

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