Answered: Qa1 = 50 – 2P, + 5P, – 3P3, Qs1 = 8P, –…

Qa1 = 50 – 2P, + 5P, – 3P3, Qs1 = 8P, – 5 Qa2 = 22 + 7P, – 2P2 + 5P3, Qs2 = 12P, – 5 Qd3 = 17+ P +5P2 – 3P3, %3D %3D Qs3 = 4P3 – 1

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

Use a matrix method to find the equilibrium prices and quantities where the supply and demand functions for Good 1, Good 2 and Good 3 are as

Qa1 = 50 – 2P, + 5P, – 3P3, Qs1 = 8P, – 5
Qa2 = 22 + 7P, – 2P2 + 5P3, Qs2 = 12P, – 5
Qd3 = 17+ P +5P2 – 3P3,
%3D
%3D
Qs3 = 4P3 – 1

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