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The equilibrium conditions for three competitive markets are described as given below, where p1, p2 and p3

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The equilibrium conditions for three competitive markets are described as given below, where p1, p2 and p3 are the equilibrium price for each market respectively.

p1 + 2p2 + 3p3 = 85

3p1 + 2p2 + 2p3 = 105

2p1 + 3p2 + 2p3 = 110

Using matrix method, find the values of respective equilibrium prices.

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⇒ p1 = 15, p2 = 20, p3 = 10

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