Question: The demand and supply functions of a two - commodity market model are as follows: Qd1 = 18-3P1+P2Qd2 = 12+P1-2P2 Qs1 =-2+4P1Qs2=-2+3 Find P i*

The demand and supply functions of a two - commodity market model are as follows:

Qd1 = 18-3P1+P2Qd2 = 12+P1-2P2

Qs1 =-2+4P1Qs2=-2+3

Find P i* and Qi*( i=1,2).(Use fractions rather than decimals)

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