Solutions of Some Equations Systems of Simultaneous Equations

Suren Basov

Chapter 13 in Microeconomics with Spreadsheets, 2017, pp 157-165 from World Scientific Publishing Co. Pte. Ltd.

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:\[\begin{array}{*{20}{l}}{\{ _{g{\rm{(}}x{\rm{, }}y{\rm{) = }}b{\rm{.}}}^{f{\rm{(}}x{\rm{, }}y{\rm{) = }}a{\rm{,}}}}&{{\rm{(13}}{\rm{.1)}}}\end{array}\]

Keywords: Microeconomics; Game Theory; Producer Theory; Consumer Theory; Economics of Information; Basics of Industrial Organization; Excel; The Solver (search for similar items in EconPapers)
JEL-codes: C81 (search for similar items in EconPapers)
Date: 2017
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