Economic equilibrium when following equations are satisfied: 2xz + xy + z = 2z = ||...
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Economic equilibrium when following equations are satisfied: 2xz + xy + z = 2√z = || xyz = 6 Currently, the equilibrium is at (x,y₁z) = (3,2,1). (1) How would x,y change when I shifts from 1 to 1.1. (get approximately by using implicit function theorm) (2) what if * changes from 3 to 2.9? Can the same theor be usied? If not, why? Economic equilibrium when following equations are satisfied: 2xz + xy + z = 2√z = || xyz = 6 Currently, the equilibrium is at (x,y₁z) = (3,2,1). (1) How would x,y change when I shifts from 1 to 1.1. (get approximately by using implicit function theorm) (2) what if * changes from 3 to 2.9? Can the same theor be usied? If not, why?
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The provided image contains two functions that represent an economic equilibrium two questions about how changes in the variables affect this equilibrium ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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