Business, 06.10.2019 07:30 tsmalls70988

Suppose an economy consists of the coal, electric, and steel sectors. denote the prices (that is, dollar values) of the total annual outputs of the coal, electric, and steel sectors by p subscript upper c, p subscript upper e, and p subscript upper s, respectively. suppose the general solution to find equilibrium prices that make each sector's income match its expenditures is p subscript upper cequals0.94p subscript upper s, p subscript upper eequals0.84p subscript upper s, and p subscript upper sis free. one set of equilibrium prices for this economy is p subscript upper cequals$94,p subscript upper eequals$84,and p subscript upper sequals$100.find another set. suppose the same economy used japanese yen instead of dollars to measure the values of the various sector's output. would this change the problem in any way? discuss.

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Suppose an economy consists of the coal, electric, and steel sectors. denote the prices (that is, do...