Answer to Question #223494 in Economics for Selly

Question

The demand and supply functions for the wto independent commodities are given by

Q^d_{1 = 205-2.5 P1 - P2}

_Q^s_{1 = 1.5 P1 - 30}

_Q^d_{1 = 147.6 - 0.5 P1 - 1.5 P2}

_Q^s_{2 = P2 - 60}

_{Determine the equilibrium price quantity for this two-commodity model}

Answer 1

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