Walrasion equilibrium Assignment Help

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Walrasion equilibrium:

A solution to consumer's utility maximisation problem when we take prices as given  yields  the  demand function for  a  consumer.  In  the equilibrium the aggregate demand cannot exceed the endowment. The Walrasian Equilibrium refers to a pair of price and consumption bundle (P*,  x*) such that 

1848_Walrasion equilibrium.png

If  we  assume  that all markets are  perfectly  competitive and consumers participating  there are  price takers,  then  Walrasian  equilibrium is called a competitive equilibrium.

Excess Demand Functions Existence of Equilibrium Prices
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