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# How would I solve this using Mathematica?

Posted 11 years ago
 I have some equations that i want to plug in to see what the outcome is and was wondering if anyone can help, I have: q1 = 4/3-2/3a-4/3p1+2/3p2&q2 = 4/3a-2/3+2/3p1-4/3p2I am trying to find the inverse demand functions in respects to price.Any help is appreciated.
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Posted 11 years ago
 and  a further question)derive the equilibrium in quantities any help would be greatly appreciated.
Posted 11 years ago
 On top of that.Assume that two firms, say firm 1 and firm 2 sell differentiated goods and face the following demand functions:q1= 4/3 - 2/3a - 4/3p1 + 2/3q2= 4/3a - 2/3 + 2/3p1 - 4/3p2where a>1 . In addition assume that firms target own profit maximisation, compete(simultaneously) in quantities and have marginal costs equal to c1= c2=c. Assume that 1>c?0.question) Derive each firms best response function. Are quantities strategic substitutes or complements?
Posted 11 years ago
 You can also do this easily in Wolfram|Alpha:http://www.wolframalpha.com/input/?i=Solve+for+p1+and+p2+%7Bq1+%3D+4%2F3-2%2F3a-4%2F3p1%2B2%2F3p2%2C++q2+%3D+4%2F3a-2%2F3%2B2%2F3p1-4%2F3p2%7D
Posted 11 years ago
 Use Solve to solve equations.In[8]:= Solve[{q1 == 4/3 - 2/3 a - 4/3 p1 + 2/3 p2,  q2 == 4/3 a - 2/3 + 2/3 p1 - 4/3 p2}, {p1, p2}]Out[8]= {{p1 -> 1/2 (2 - 2 q1 - q2), p2 -> a - q1/2 - q2}}