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lectures/supply_demand_heterogeneity.md

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@@ -152,7 +152,7 @@ Below we shall construct a Python class with the following attributes:
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* a scalar "wealth" $W$ with default value $0$
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The class will include a test to make sure that $b > > \Pi e $ and raise an exception if it is violated
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The class will include a test to make sure that $b \gg \Pi e $ and raise an exception if it is violated
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(at some threshold level we'd have to specify).
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* **A Person** in the form of a pair that consists of
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* $m=2$ for our illustrations of a pure exchange economy
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* an equilibrium price vector $p$ (normalized somehow)
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* an equilibrium allocation $c^1, c^2, \ldots, c^m$ -- a collection of $m$ vectors of dimension $n \times 1$
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* an equilibrium allocation $c_1, c_2, \ldots, c_m$ -- a collection of $m$ vectors of dimension $n \times 1$
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Now let's proceed to code.
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@@ -250,7 +250,7 @@ Next we use the class ``ExchangeEconomy`` defined above to study
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### Two-person economy without production
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Here we tudy how competitive equilibrium $p, c^1, c^2$ respond to different $b^i$ and $e^i$, $i \in \{1, 2\}.
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Here we study how competitive equilibrium $p, c_1, c_2$ respond to different $b_i$ and $e_i$, $i \in \{1, 2\}$.
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```{code-cell} ipython3
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Π = np.array([[1, 0],

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