Present the model of a market of two goods from Exercise E2 as (a) a dynamic discrete time model, (b) a dynamic continuous time model Exercise E2 There is given a market of two products with exogenous demand functions Check whether in these models Walras's law is satisfied for a vector function of ...

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Present the model of a market of two goods from Exercise E2 as (a) a dynamic discrete-time

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Present the model of a market of two goods from Exercise E2 as

(a) a dynamic discrete-time model,

(b) a dynamic continuous-time model. image text in transcribed

Exercise E2

There is given a market of two products with exogenous demand functions: image text in transcribed

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Microeconomics Static And Dynamic Analysis Springer Texts In Business And Economics

ISBN: 9783031105531

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Authors: Krzysztof Malaga, Karolina Sobczak

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Question Posted: Jan 31, 2024 02:00 AM

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Present the model of a market of two goods from Exercise E2 as (a) a dynamic discrete-time

Question:

Check whether in these models Walras's law is satisfied for a vector function of the excess demand. Selecting proper values for parameter o > 0 in the dynamic discrete-time model determine feasible price trajectories for 10 subsequent periods: t = 1, 2, ..., 10.

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Microeconomics Static And Dynamic Analysis Springer Texts In Business And Economics

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