Suppose there are only two goods - Food (F)and Shelter (S).The demand equations for these two goods depend on their prices,pF and pS as follows:
DF (pF,pS)= 10 - 2pF - pS
DS (pF,pS)= 10 - pF - 2pS
The supply curves depend only on their own prices:
SF (pF)= pF
SS (pS)= 5pS
Determine the equilibrium price and quantity of these goods.

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The Answer of Suppose there are only two goods - Food (F)and Shelter (S).The demand equations for these two goods depend on their prices,pF and pS as follows:
DF (pF,pS)= 10 - 2pF - pS
DS (pF,pS)= 10 - pF - 2pS
The supply curves depend only on their own prices:
SF (pF)= pF
SS (pS)= 5pS
Determine the equilibrium price and quantity of these goods.

Suppose There Are Only Two Goods - Food (F)and Shelter