Question: Using the same notation as in Worked-Out Problem 16.1, suppose the following formulas describe the weekly supply and demand for ice cream: QdI = 300

Using the same notation as in Worked-Out Problem 16.1, suppose the following formulas describe the weekly supply and demand for ice cream:
QdI = 300 -5PI - 4PI
QSI = 5PI 20
Also suppose the following formulas describe the supply and demand for pie:
QdP = 312 -8PP - 6PI
QSP = 4PP - 24
Solve for prices and quantities in a general equilibrium.

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