1. For this and the following three problems, consider a partial equilibrium two households with preferences given by u1(x1,m1) = 2ln(xı + 1/6) u2(x2, m2) = 3 ln(x2+1/3)+m2, and two firms with cost functions for the of good 1 given by c1 (yı) = yỉ and c2(y2) = y3. Find the demand functi 1 of each household and the market demand function for good 1, and ilh household demand and the market demand curves in a graphic. 2. Find the supply function for good 1 of each firm and the market supply good 1, and illustrate each firm supply and the market supply curves in 3. Find the competitive equilibrium price for good 1, as well as the equi mand of each household, the equilibrium supply for each firm, the househ in equilibrium, the firms' equilibrium profits, the consumer surplus, th
1. For this and the following three problems, consider a partial equilibrium two households with preferences given by u1(x1,m1) = 2ln(xı + 1/6) u2(x2, m2) = 3 ln(x2+1/3)+m2, and two firms with cost functions for the of good 1 given by c1 (yı) = yỉ and c2(y2) = y3. Find the demand functi 1 of each household and the market demand function for good 1, and ilh household demand and the market demand curves in a graphic. 2. Find the supply function for good 1 of each firm and the market supply good 1, and illustrate each firm supply and the market supply curves in 3. Find the competitive equilibrium price for good 1, as well as the equi mand of each household, the equilibrium supply for each firm, the househ in equilibrium, the firms' equilibrium profits, the consumer surplus, th
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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