The market-clearing equations of a general equilibrium model with two markets are given as in 1/(w/p)2 = 9 6 =aw/p where a > 0 is some fixed parameter. Under what condition(s) on ? does there exist a general equilibrium?

The market-clearing equations of a general equilibrium model with two markets are given as in 1/(w/p)2 = 9 6 =aw/p where a > 0 is some fixed parameter. Under what condition(s) on ? does there exist a general equilibrium?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.1P

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