Demand and Supply model In the notes and lessons, we saw that quantity demanded and quantity supplied may be related by the recurrence relations Pn+1-Pn a (Dn - Pa). Dni-Da "B (Pn- Dn), where P, is the level production after n time intervals, D, is the quantity demanded by the consumer and a and ß are proportionality constants. Question 2 Which of the following recurrence relations might also be suitable to model demand and supply? A. Pne1-Pn #a (P,- D,n), o Dor1-D, "B (D,- Pa). В. o Pne1-Pn =a (Dn - P)?, o Da1-Da =p (Pn- Dn)?. C. • Pne1-Pn =a (D,- Pn), o Dne1-Da "B (Pn- D.

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