The demand and supply functions for 2 interdependent commodities are given by: Op = 47 – 3P, + P, OD. = 38+ 2P – 3P, Os =-8+2P Os, = -12+ P, Determine the equilibrium price and quantity of this 2 commodity model. Are the goods complementary or substitutable? Justify. %3D
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![OThe demand and supply functions for 2 interdependent commodities are given
by:
Qp = 47- 3P + P,
OD, = 38+ 2P -3P,
Os =-8+ 2P,
Os, =-12+ P,
Determine the equilibrium price and quantity of this 2 commodity model.
Are the goods complementary or substitutable? Justify.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd4628b24-c1db-4519-b870-465ceab0b407%2F48c6f401-35f7-4d2a-9eaa-11cac6e11d71%2F5nkgqac_processed.jpeg&w=3840&q=75)
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