document.write( "Question 1169745: 2)Determine the equilibrium prices of the three interdependent commodity that satisfy.
\n" ); document.write( " 𝑝1+3𝑝2+3𝑝3=32
\n" ); document.write( " 𝑝1+4𝑝2+3𝑝3=37
\n" ); document.write( " 𝑝1+3𝑝2+4𝑝3=35
\n" ); document.write( "(Express this system in matrix form and hence find the values of 𝑝1, 𝑝2 and 𝑝3)
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Algebra.Com's Answer #794559 by ikleyn(52794) $\"\"$ $\"About$

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document.write( "𝑝1 + 3𝑝2 + 3𝑝3 = 32    (1)\r\n" );
document.write( "𝑝1 + 4𝑝2 + 3𝑝3 = 37    (2)\r\n" );
document.write( "𝑝1 + 3𝑝2 + 4𝑝3 = 35    (3)\r\n" );
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document.write( "From equation (3), subtract equation (1).  You will get\r\n" );
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document.write( "           p3 = 35 - 32 = 3.    (4)\r\n" );
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document.write( "Next, from equation (2), subtract equation (1).   You will get\r\n" );
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document.write( "     p2       = 37 - 32 = 5.\r\n" );
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document.write( "Sunbstitute the found values  p2= 5,  p3 = 3  into equation (1).  You will get\r\n" );
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document.write( "p1 + 3*5 + 3*3 = 32\r\n" );
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document.write( "which implies  \r\n" );
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document.write( "p1 = 32 - 3*5 - 3*3 = 8.\r\n" );
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document.write( "ANSWER.  p1= 8,  p2= 5,  p3= 3.\r\n" );
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