Question: Using the matrix inversion and Cramer's rule, find the value of endogenous variables. 18 3P, + P2; Qs1 = -2 + 4P1 Qa1 Qa2

Using the matrix inversion and Cramer's rule, find the value of endogenous

Using the matrix inversion and Cramer's rule, find the value of endogenous variables. 18 3P, + P2; Qs1 = -2 + 4P1 Qa1 Qa2 = 12 + P1 2P2 ; Qs2 = -2 + 3P2

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Qd1 183P1 P2 Qs1 24P1 to solve for P1 and P2 we set them equal to each other 18 3P1 P2 2 4P1 20 ... View full answer

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