(Solved): Question 1 Given demand and supply for the cobweb model as follows, find the intertemporal equilibr ...

Question 1 Given demand and supply for the cobweb model as follows, find the intertemporal equilibrium price, and determine whether the equilibrium is stable: (a) \( Q_{d t}=18-3 P_{t} \quad Q_{t t}=-3+4 P_{t-1} \) (b) \( Q_{d t}=22-3 P_{t} \quad Q_{1 t}=-2+P_{t-1} \) (c) \( Q_{d t}=19-6 P_{t} \quad Q_{s t}=6 P_{t-1}-5 \)