The demand and supply functions for three interdependent commodities are QD1 = 15 − P1 + 2 P2 + P3 QD2 = 9 + P1 − P2 − P3 QD3 = 8 + 2 P1 − P2 − 4 P3 QS1 = −7 + P1 QS2 = −4 + 4 P2 QS3 = −5 + 2 P3 where QD i , QS i and P i denote the quantity demanded, quantity supplied and price of good i respectively. Determine the equilibrium price and quantity for this three-commodity model

only 10/60 isn't equivalent

hope this : )

3

step-by-step explanation:

in standard form:

a= dictionaries

b= maps

you have to buy 3 dictionaries, so put a 3 next to the a (dictionaries) so that you can multiply them by each other.

a3+b= 60 (the amount of money you have)

we already know the cost of a=15 so replace a with $15

($15 x 3)+b=60

multiply 15 and 3 to get $45 and replace it with $45

45+b=60

and then replace b with 15 to get the total:

45+15=60

that means you have $15 left after buying 3 dictionaries.

15 divided by the cost of a map ($5) equals 3.

so you can buy 3 maps.

sorry if it was confusing!