Question

The following are the demand and supply functions for three competing mobile phone models of
different manufacturers.
= − + +
= −
= + − +
= −
= + + −
= −
Using Gaussian Elimination Method determine whether there are prices which would bring the
supply and demand levels into equilibrium for each of the three mobile phone models. If so, what
are the equilibrium demand and supply quantities?
You may get the three equations of market equilibrium condition by equating
with , and .

Answer 1

Answer:

1. low

2. low

3. high

4.low

5. low

6. high