Suppose the demand for good x is QDx-aP+BP, and the demand for good y is QD,+ aP - BP,. The supply of good 1 is QS₁. a, B.QD,,QS, > 0. Solve for Px* and 2 Py*. A. Px B. Px 1 34 [0₂. X 3α D. Px = = C. Px* = * Os - Od-(0s, -Qd,) and Py = + 1 3 20 [Q₁₁ - Qd₂ + ² (0₁, - Qd₂ )] -Qd, and Py* == y 2α 4 3 3² (0₁₂ - Qd₂ ) + (0s, - Qd,) 5 p 4 3α ↓ [Qs , - Qd, +1(Qs, − Qd,)] and Py` = + 32 | 1 (0s, - Qd₂) + (0s, -Qd₂ )] - 4a 1 Os. - Qd, +- (Os, - Qd₂ ) , and Py y 3 2³38 [1(0s,- Od, ) + (Os, od, )] - 2ß 4 + [ - (0₁₂ - Qd₂ ) + (0₁₂ - Qd₂ )] 3P 2

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
1
Suppose the demand for good x is QD, - aP, +- BP, and the demand for good y is
y
2
1
QD, + aP, - BP, . The supply of good t is QS,. a,B,QD,,QS, > 0. Solve for Px' and
Py".
1
3
1
(es,-Qd,)
-(Qs, - Qd ,) + (Qs , - Qd ,)
5B[3
Α. Px
Qs , - Qd ,
За
and Py* = +
1
3
В. Рх"
Qs , - Qd , + (os, – Qd ,)|
and Py' = -(os, - Qd , ) + (Qs, - Qd ,)]
2a
4
c. Px' =O +
1
С. Рх
Os, - Qd, +1(Qs, -Qd, and Py' =+
(Os,-Qd.)+(Os, -Qd,)|
4a
4
4
Qs , - Qd ̟ + (Os,
- Qd,
(Qs- - Qd )+ (Qs, - Qd,)
3B
D. Px*
and Py
За
Transcribed Image Text:1 Suppose the demand for good x is QD, - aP, +- BP, and the demand for good y is y 2 1 QD, + aP, - BP, . The supply of good t is QS,. a,B,QD,,QS, > 0. Solve for Px' and Py". 1 3 1 (es,-Qd,) -(Qs, - Qd ,) + (Qs , - Qd ,) 5B[3 Α. Px Qs , - Qd , За and Py* = + 1 3 В. Рх" Qs , - Qd , + (os, – Qd ,)| and Py' = -(os, - Qd , ) + (Qs, - Qd ,)] 2a 4 c. Px' =O + 1 С. Рх Os, - Qd, +1(Qs, -Qd, and Py' =+ (Os,-Qd.)+(Os, -Qd,)| 4a 4 4 Qs , - Qd ̟ + (Os, - Qd, (Qs- - Qd )+ (Qs, - Qd,) 3B D. Px* and Py За
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