Question: 1. 1 Can you suggest a method for using the reduced form equations (1 1.4) and ( I l5l to obtain an estimate of the

1. 1 Can you suggest a method for using the reduced form equations (1 1.4) and ( I l5l to obtain an estimate of the slope of the supply function Q:ltP *e"? lr particular, suppose that the estimated reduced form equations are P: 18X and Q:5X. What is an estimated value of 9t. (Hint: look at the expressions for r1 and r).

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