Cobweb model on a spreadsheet

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Reference no: EM13948387

Set up the following cobweb model on a spreadsheet for t =0 to 10

qd(t)= 18 - 3p(t)
qs(t)=- 10 + 4pe(t)
pe(t)= p(t - 1)
q(t)= qd(t)= qs(t)

(i) What is the equilibrium price and quantity?

(ii) Given p(0)=3, does the market tend to equilibrium?

Reference no: EM13948387

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