If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it behavioral equations because they model the behavior of, respectively, buyers and sellers.
Original toplevel document
3.6. Market Equilibrium the supply function and solving for price. Recall that in our hypothetical example of a local gasoline market, the demand function was given by Qdx=f(Px,I,Py) , and the supply function was given by Qsx=f(Px,W) . Those expressions are called <span>behavioral equations because they model the behavior of, respectively, buyers and sellers. Variables other than own price and quantity are determined outside of the demand and supply model of this particular market. Because of that, they are called exogenous variables . Pric
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
Discussion
Do you want to join discussion? Click here to log in or create user.