2. The demand and supply functions of two-commodity marketmodel are as follows:Qd1=18-3P1+P2; Qd2=12+P1-2P2;Qs1=-2+4P1; Qs2=-2+3P1,where Qdi is the demand for commodity i, Qsi is the supply forcommodity i, Pi is the price for commodity i. Please find thegeneral equilibrium price and output and for i=1 and 2. (20 分)

4. Suppose a country has a production function that exhibitsconstant returns to scale. Starting from an initial steady statewith population growth rate n and a rate of capital depreciationδ, the country is devastated by a bird flu that quickly kills half ofits population. Use the Solow growth model to graphicallyillustrate the impact of the slower rate of population growth onthe steady-state capital-labor ratio and the steady-state level ofoutput per worker.Be sure to label the: (14 分) (a) axes;

相關申論題

相關試卷