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please show all your work on the paper, do not copy from the other answer...

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Accounting

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please show all your work on the paper, do not copy from the other answer or you will get negative.

We now analyze the general equilibrium of this economy. (a) (5) Normalize the rental price of land to r=1. What relationship does this define between the equilibrium prices pc and pw ? (b) (5) Using the market supply and demand curves, find the equilibrium price ratio pwpc. (c) (5) Find the equilibrium prices of corn pc and wheat pw (d) (5) Find the equilibrium quantities qc,qw, land used c,w, and profit earned c,w by each farm. (e) (5) Find the income Ic,Iw, consumption of corn qcc,qcw and wheat qwc,qww, and utility uc,uw for each farmer. (f) (5) List all of the explicit transactions that are recorded in this economy. (g) (5) Taking the perspective of an accountant and ignoring all implicit costs, find the accounting profit ca,wa for each farmer

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