Systems of Linear Equations

Chapter
First Online:
Part of the Springer Texts in Business and Economics book series (STBE)

Abstract

Remember the economic model given in Introduction. It is one of the main problems in economics to find when (i.e, under what price) the demand and the supply of the economic system will be in equilibrium. We now begin to find these conditions for our model in the most general way.

A set of linear equations is called a system. It is of interest to find conditions under which (a) the solution of a system exists, (b) the solution of a system is unique.

Keywords

Linear Equation Demand Function Public Consumption Private Investment Unknown Variable 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  • Fuad Aleskerov
    • 1
  • Hasan Ersel
    • 2
  • Dmitri Piontkovski
    • 1
  1. 1.Higher School of Economics Mathematics for EconomicsNational Research UniversityMoscowRussia
  2. 2.Faculty of Arts and Social SciencesSabanci UniversityIstanbulTurkey

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