General Equilibrium Models
Since the time of Leon Walras (1834–1910), describing the economy as systems of simultaneous equations has been a customary task of economists. They are broadly called general equilibrium models, though there are several variations among them. In this chapter we describe a method of obtaining numerical solutions of these models with Mathematica. In addition, we show how Mathematica can depict various aspects of these models graphically.
KeywordsUtility Function Production Function Production Factor Marginal Productivity Marginal Rate
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