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The third page of an economics exam focusing on linear algebra concepts such as finding equilibrium prices, basis, eigenvalues, and diagonalizability for given matrices. Students are required to find the reduced row echelon form, null space, and eigenvectors of specific matrices.
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. Math 205B&C Name (^) Exam 2 page 1 (^) 03/20/ 1. Suppose an economy is modeled ,"lith four sectors A, B, C, and D. Suppose that the entire output
of D is consumed equally by the other three sectors, and the output of A is equally consumed by all four sectors. Suppose that B COllSumesnone of its output, while half of it is used by D, 1/8 is used by A and the remainder goes to C. Finally, A uses none of C~s output, Buses 1/8 of C~soutput, D uses twice what B does, and C consumes the rest. lB. Find the complete set {PA, PB, Pc, PD} of equilibrium prices for this economy. Write down any system of equations and augmented matrices you use in solving this problem. (Note well: if you need to enter 1/3 into your calculator as a matrix entry, do it as "1 -7- 3" rather than entering 0.333 or some such bad deeimal approximation). Use fractions in your answers, not decimals. IC. Suppose PD is 100 dollars. R.ank all four equilibrium prices from least to greatest.
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. Math 205B&C (^) Name (^) Exam 2 page 2 03/20/
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Let A = 2 11 11 35 7 ; then the reduced row echelon form of AIS R = 0 0 1
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e) What is the rank of A? (]) ;L "'<>fn;.-)
f) Explain why Gal(A) cannot be the sanle as Col(R) here.
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Name (^) Exam 2 page 5 (^) 03/20/
\i\lhat is the determinant of IvI? I :<0 I = 'i -I.!) S//Jce;Y/ h t/f/Rr ft,ivt;~~
Now, find the determinants of each of the following matrices and write your answers in the boxes.
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