Question: Supply and demand analysis can involve multiple inter-related markets. Consider the markets for fuel, fertilizers, and food: Fuel: Fertilizer: Food: 981 6p1-8 3p2-11 983=3p3-5

Supply and demand analysis can involve multiple inter-related markets. Consider the markets

Supply and demand analysis can involve multiple inter-related markets. Consider the markets for fuel, fertilizers, and food: Fuel: Fertilizer: Food: 981 6p1-8 3p2-11 983=3p3-5 = -5p1 + P2+ P3 +23 9d2P1-3p2 + 2p3 + 15 9ds P1+2p2-4p3 + 19 Id= (5) Using the method of elimination, solve for the equilibrium price and quantity in each of the three markets.

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