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Price Endogenous Model for Economics by Rurit Prasetianto is a document available to read on EtoBox.
What is Price Endogenous Model for Economics about?
This document presents an economic model that endogenizes price using supply and demand curves. It defines supply and demand curves with intercept and slope parameters. The objective function maximizes total surplus by summing terms for each curve that multiply quantity by the intercept and square quantity by half the slope, using a SIGN parameter to indicate whether each curve is positive (demand) or negative (supply). The single commodity balance equation equates total quantity supplied and demanded.
- Author
- Rurit Prasetianto
- Language
- EN