Equilibrium: Exercise Finding the equilibrium; solving systems of linear equations Given are the following demand functions and supply functions for 3 products 1, 2 and 3: 91=5p₁-10 9,2=5p₂-81 (9,3 =2p₁ -1 d=21-P₁-3p₂ + P3 9d2=20-P₂ + P3 and 9d3=8-P₁-P3 Compute the equilibrium quantities of the three products and click OK.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Equilibrium: Exercise
Finding the equilibrium; solving systems of linear equations
Given are the following demand functions and supply functions for 3 products 1, 2 and 3:
d=21-P₁-3p₂ + P3
91=5p₁-10
9d2=20-P₂ + P3 and
9,2=5p₂-81
9d3=8-P₁-P₁
9,3 =2p; -1
Compute the equilibrium quantities of the three products and click OK.
Transcribed Image Text:Equilibrium: Exercise Finding the equilibrium; solving systems of linear equations Given are the following demand functions and supply functions for 3 products 1, 2 and 3: d=21-P₁-3p₂ + P3 91=5p₁-10 9d2=20-P₂ + P3 and 9,2=5p₂-81 9d3=8-P₁-P₁ 9,3 =2p; -1 Compute the equilibrium quantities of the three products and click OK.
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