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1 parent 2d81dbd commit d1885f2Copy full SHA for d1885f2
1 file changed
lectures/intro_supply_demand.md
@@ -375,7 +375,7 @@ $$
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$$
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- p = i_s(q) := s_0 + s_1 q^{1.2}
+ p = i_s(q) := s_0 + s_1 q^{1.8}
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All parameters are positive, as before.
@@ -476,7 +476,7 @@ assumption that the price is the same for buyers and sellers:
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W(q)
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- = \int_0^q i_d(x) dx - \int_0^q i_q(x) dx
+ = \int_0^q i_d(x) dx - \int_0^q i_s(x) dx
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Solve the integrals and write a function to compute this quantity numerically
@@ -593,7 +593,7 @@ from scipy.optimize import newton
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def excess_demand(q):
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return market.inverse_demand(q) - market.inverse_supply(q)
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-equilibrium_q = newton(excess_demand, 0.1)
+equilibrium_q = newton(excess_demand, 0.99)
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print(f"{equilibrium_q: .5f}")
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```
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