Exercises:

1. Declare the benchmark prices as scalars in the EXAMPLE 2 to allow for changes in the counterfactual models.

2. Use modified EXAMPLE 2 to make exercises 2a and 2b from the Lecture 3. Please allow GAMS to run the solutions for all three exercises in one file as we done in the EXAMPLE 3a.

3. Modify the EXAMPLE 1 by using GAMS statements in the MPSGE model as we done in the EXAMPLE 2.

Hint: (i) declare the benchmark values as scalars to allow for changes when we would change a calibration point and (ii) adjust the rest of the model to these scalars.

4. Use modified EXAMPLE 1 to make exercises 1a, 1b, and 1c from the Lecture 3. Please allow GAMS to run the solutions for all three exercises in one file as we done in the EXAMPLE 3a.