The demand and supply functions of a commodity are given by Qd=D(P,PS,Y) Qs = S(P,To,Ro) where p is the price of the commodity, ps is the price of a substitute, We assume that Dp 0, Dps > 0, Sp>0, ST 0. d. Find do* Q* aps aRo and a. Write the equilibrium condition in a single equation. b. Verify that the implicit function theorem is applicable. Write the equilibrium identity. C. Find ap* ap* ap* aps' dy' R Discuss their economic interpretation. and ap* a To Yo . is income, To is the tax and Ro is rainfall.