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ECN700-HW6_a - and 3 x 1 x 2 = 2 x 1 3 x 2 The solution is...

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Problem Set 6 - Brief Solutions 1. and 2. For both of these problems, the solution is p 1 p 2 = 1. 3. Solve for the demand of consumer 1 by setting 2 x 1 = x
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Unformatted text preview: and 3 x 1 + x 2 = 2 x 1 + 3 x 2 . The solution is a bit messy, but it’s whatever ratio solves the equation: 6 z 2-41 z + 8 = 0...
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