Economic equilibrium when following equations are satisfied: 2xz + xy + z = 2z = ||...

 

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Economic equilibrium when following equations are satisfied: 2xz + xy + z = 2√z = || xyz = 6 Currently, the equilibrium is at (x,y₁z) = (3,2,1). (1) How would x,y change when I shifts from 1 to 1.1. (get approximately by using implicit function theorm) (2) what if * changes from 3 to 2.9? Can the same theor be usied? If not, why? Economic equilibrium when following equations are satisfied: 2xz + xy + z = 2√z = || xyz = 6 Currently, the equilibrium is at (x,y₁z) = (3,2,1). (1) How would x,y change when I shifts from 1 to 1.1. (get approximately by using implicit function theorm) (2) what if * changes from 3 to 2.9? Can the same theor be usied? If not, why?

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The provided image contains two functions that represent an economic equilibrium two questions about how changes in the variables affect this equilibrium ... View the full answer