(a) Find the inverse of the following matrix, in terms of a. For what value of a...
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(a) Find the inverse of the following matrix, in terms of a.For what value of a is this matrix singular?
(b) Consider the three-commodity market model defined by:By making use of your answer to part (a), or otherwise, find the equilibrium prices.
Transcribed Image Text:
4 -2 -1 -2 5 1 -4 Os, = 2P, – 7; Qp, = -2P, + 2P, + P3 + 16 Os, = 4P, – 4; Qn, = 2P, – P, – P3 + 8 Os, = 2P, – 3; Qo, = 4P, – P2 - 4P, + 4
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a The determinant is 45a122a 418 16a14 The inverse matrix is 21 1 1...View the full answer
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