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Solutions of Some Equations Systems of Simultaneous Equations

In: MICROECONOMICS with SPREADSHEETS

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  • Suren Basov

Abstract

In this chapter, I will introduce you to some methods used to solve the systems of simultaneous equation. Such equations arise in economics, for example, when we look for a system of equilibrium prices or equilibrium strategies in a game (e.g., outputs of Cournot oligopolists), simultaneous movements of the gross domestic product (GDP) and interest rates in macroeconomic models, etc. Let us for simplicity consider here a system of two equations in two variables x and y:\[\begin{array}{*{20}{l}}{\{ _{g{\rm{(}}x{\rm{, }}y{\rm{) = }}b{\rm{.}}}^{f{\rm{(}}x{\rm{, }}y{\rm{) = }}a{\rm{,}}}}&{{\rm{(13}}{\rm{.1)}}}\end{array}\]

Suggested Citation

  • Suren Basov, 2017. "Solutions of Some Equations Systems of Simultaneous Equations," World Scientific Book Chapters, in: MICROECONOMICS with SPREADSHEETS, chapter 13, pages 157-165, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813143968_0013
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    Keywords

    Microeconomics; Game Theory; Producer Theory; Consumer Theory; Economics of Information; Basics of Industrial Organization; Excel; The Solver;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

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