Local analysis 2 Aggregation demand function for x(p)=∑x(m) oIt's continuous and non-increasing for 0<p<max;(0) See the fig
Local analysis Aggregation demand function for l. It’s continuous and non-increasing for See the fig. 1 ( ) ( ) I i i x p x p = = 0 max (0) i i p
Local analysis ◆ i's supply function (q1)f P>C,(0 q,(p) psC(O q(P)= if p>c(o) Aggregation supply function q(p)=2y, ( p) pIt's continuous and non-increasing for p>min, C,(O) See the fig
Local analysis j’s supply function Aggregation supply function It’s continuous and non-increasing for See the fig. 1 ( ) (0) ( ) 0 (0) j j j j j c q if p c q p if p c − = 1 ( ) <0 (0) ( ) j j j j q p if p c c q = 1 ( ) ( ) J j j q p q p = = min (0) j j p c