Consider the market model Q S = 3P - 1 Q D = -2P + 9 dP/dt

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Consider the market model

Q_S = 3P - 1
Q_D = -2P + 9
dP/dt = 0.5(Q_D - Q_S)
Find expressions for P(t), Q_S(t) and Q_D(t) when P(0) = 1. Is this system stable or unstable?

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Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Question Posted: Apr 18, 2019 10:25 AM

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Consider the market model Q S = 3P - 1 Q D = -2P + 9 dP/dt

Question:

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In equilibrium dP dt 052P93P1 25P5 The complementary function is CF Ae25t ...View the full answer

Mathematics for Economics and Business

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