Given the demand function calculate domestic demand, Ask an Expert

Economics

Given the demand function find out domestic demand, domestic supply, international price, imports.

Assume we have a competitive marketplace for a good with domestic demand and supply given by:

P = 310 - .05QD

P = 30 + .03QS

International supply is given by a constant competitive price of P1 = $90.

With trade, what will be the domestic quantity demanded and supplied, and what will be the imported supply?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M918303

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