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)

 

  1. Qd1= ao+a1P1+a2P2

Qs1= bo+b1P1+b2P2

 

Qd2= αo1P12P2

QS201P12P2

 

 

  1. Write out the coefficient matrix, variable matrix and constant matrix.
  2. Find P*1, P*2, Q*1  and Q*2 by Cramer’s rule.
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