107 784
Assignments Done
100%
Successfully Done
In July 2024
In July 2024
Your physics assignments can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Physics
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Math
Our experts will gladly share their knowledge and help you with programming projects. Keep up with the world’s newest programming trends.
Programming
Answer to Question #221681 in Macroeconomics for GabrielIe
Question #221681
In the the market for Fante Kenkey, the supply and demand functions respectively are
and
When there is excess demand, price adjusts according to the equation
Find the long run equilibrium price, P* (that is, the price at which there is no excess demand or supply).
Formulate and solve he first order differential equation giving P as a function of time, t. Is this market dynamically stable or unstable?
If the initial price is P = 50, how close will the price be to its long run equilibrium value, when t = 10?
and
When there is excess demand, price adjusts according to the equation
Find the long run equilibrium price, P* (that is, the price at which there is no excess demand or supply).
Formulate and solve he first order differential equation giving P as a function of time, t. Is this market dynamically stable or unstable?
If the initial price is P = 50, how close will the price be to its long run equilibrium value, when t = 10?
Expert's answer
The attached images below is the solution for the question.The solutions are labelled as a,b, and c.
Learn more about our help with Assignments: Macroeconomics
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
#340153 on Dec 2023
#340153 on Dec 2023
Comments
Leave a comment