Question

a) Solve the difference equations. (b) Check your answers. (c) Comment on the nature of the...

a) Solve the difference equations. (b) Check your answers. (c) Comment on the nature of the time paths. (6) Qdt = 180 – 0.75Pt; Qst = -30 + 0.3Pt-1; P0 = 220 (Hints :Qdt = Quantity demanded; Qst = Quantity supplied ; P = Price. Use market equilibrium condition, Qdt = Qst, to form difference equation.)

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Q4. Assume that demand for a commodity is represented by the equation P = 10 -...
Q4. Assume that demand for a commodity is represented by the equation P = 10 - 0.2Qd and supply by the equation P = 2 + 0.2Qs, where Qd and Qs are quantity demanded and quantity supplied, respectively ,and P is price. Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium price and equilibrium quantity. Graph the two equations to substantiate your answers. Answer in the space below!
Assume that demand for a commodity is represented by the equation P = 20 – 0.6...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6 Q d, and supply by the equation P = 10 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd 1: Solve the equations to determine equilibrium price. 2: Now determine equilibrium quantity. 3: Graph the two equations to substantiate your answers and label these two graphs...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6 Q d, and supply by the equation P = 10 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd 1: Solve the equations to determine equilibrium price. 2: Now determine equilibrium quantity. 3: Graph the two equations to substantiate your answers and label these two graphs...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6 Q d, and supply by the equation P = 10 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd 1: Solve the equations to determine equilibrium price. 2: Now determine equilibrium quantity. 3: Graph the two equations to substantiate your answers and label these two graphs...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6 Q d, and supply by the equation P = 10 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd 1: Solve the equations to determine equilibrium price. 2: Now determine equilibrium quantity. 3: Graph the two equations to substantiate your answers and label these two graphs...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6...
Assume that demand for a commodity is represented by the equation P = 20 – 0.6 Q d, and supply by the equation P = 10 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd 1: Solve the equations to determine equilibrium price. 2: Now determine equilibrium quantity. 3. Make a Table of points and then graph the following 4. Graph Demand...
1: Assume that demand for a commodity is represented by the equation P = 10 –...
1: Assume that demand for a commodity is represented by the equation P = 10 – 0.2 Q d, and supply by the equation P = 5+ 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd 1: Solve the equations to determine equilibrium price. 2: Now determine equilibrium quantity. 3: Graph the two equations to substantiate your answers and label these two graphs...
The demand and supply equations for a good are given as q^2 + 8q + 220...
The demand and supply equations for a good are given as q^2 + 8q + 220 = 11p and q^2 + 6q − 384 + 12p = 0 respectively, where q is the quantity demanded and supplied and p is the price. a. Find the equilibrium price and quantity of the good. b. Determine the revenue function of the good. c. Hence, or otherwise determine the revenue level at the market equilibrium, to the nearest whole number.
Suppose the corn market has the following equations: QD = 3000 - 400P QS = 900...
Suppose the corn market has the following equations: QD = 3000 - 400P QS = 900 + 300P Where QD and QS are quantity demanded and quantity supplied measured in bushels, and P = price per bushel. Determine consumer surplus at the equilibrium price and quantity. 6 marks Assume that the government has imposed a price floor at $3.50 per bushel and agrees to buy any resulting excess supply. How many bushels of corns will the government be forced to...
Consider an economy described by the following equations: QD = 30M - 2P QS = (1-t)P...
Consider an economy described by the following equations: QD = 30M - 2P QS = (1-t)P -5 QD = QS where QD is quantity demanded, QS is quantity supplied, M is the income of consumers, and t is the tax rate (with 0 < t < 1). Consider the vector of endogenous variables X = [ QD P QS ] T . 1)Write the model in matrix form. 2) Does the model have a unique solution? Explain. 3) Solve the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT