Q.No.1 Suppose the demand and supply functions are as follow (8) Qd1= ao+a1P1+a2P2 Qs1= bo+b1P1+b2P2 Qd2= αo+α1P1+α2P2 QS2=β0+β1P1+β2P2 Write out the coefficient matrix, variable matrix and constant matrix. Find P*1, P*2, Q*1 and Q*2 by Cramer’s rule.
Q.No.1 Suppose the demand and supply functions are as follow (8) Qd1= ao+a1P1+a2P2 Qs1= bo+b1P1+b2P2 Qd2= αo+α1P1+α2P2 QS2=β0+β1P1+β2P2 Write out the coefficient matrix, variable matrix and constant matrix. Find P*1, P*2, Q*1 and Q*2 by Cramer’s rule.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter9: Systems Of Equations And Inequalities
Section9.6: The Algebra Of Matrices
Problem 13E
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Q.No.1 Suppose the demand and supply functions are as follow (8)
- Qd1= ao+a1P1+a2P2
Qs1= bo+b1P1+b2P2
Qd2= αo+α1P1+α2P2
QS2=β0+β1P1+β2P2
- Write out the coefficient matrix, variable matrix and constant matrix.
- Find P*1, P*2, Q*1 and Q*2 by Cramer’s rule.
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