Gas prices america
Posted: Tue May 10, 2011 2:03 am
I have reccived a task about the American gas market, and two equations.
The top one is “request” the lower one is “offer”(Attachment)
a)
Is the two equations in the system identified?
B)
On the basis of the two equations, derive the reduced equations as a function of
parameters in the system
C)
Estimate the supply function using 2SLS-estimator ("Two-Stage Least-Squares").
What is the connection between price and quantity in the supply function?
How do I figure this out in eviews? This is really imortant to me and I would be very happy if anyone can help me!
The top one is “request” the lower one is “offer”(Attachment)
a)
Is the two equations in the system identified?
B)
On the basis of the two equations, derive the reduced equations as a function of
parameters in the system
C)
Estimate the supply function using 2SLS-estimator ("Two-Stage Least-Squares").
What is the connection between price and quantity in the supply function?
How do I figure this out in eviews? This is really imortant to me and I would be very happy if anyone can help me!