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Title: Competitive firms and maximization Post by: Emmanuel Antwi on Sep 4, 2022 Suppose there are only two goods – Food (F) and Shelter (S). The demand equations for these two goods depend on their prices, pF and pS as follows:
DF (pF, pS) = 10 – 2pF – pS DS (pF, pS) = 10 – pF – 2pS The supply curves depend only on their own prices: SF (pF) = pF SS (pS) = 5pS Determine the equilibrium price and quantity of these goods. Title: Re: Competitive firms and maximization Post by: bio_man on Sep 4, 2022 Hi Emmanuel,
I found a similar question with its solution. (https://biology-forums.com/gallery/45/6_04_09_22_10_57_55.jpeg) (https://biology-forums.com/index.php?action=gallery;sa=view&id=45305) And the solution: (https://biology-forums.com/gallery/45/6_04_09_22_10_58_22.png) (https://biology-forums.com/index.php?action=gallery;sa=view&id=45306) Does that help? Title: Re: Competitive firms and maximization Post by: Marcie D on Sep 4, 2022 Answer is here: https://biology-forums.com/index.php?topic=807891.0
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