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Given the quantity demand and quantity supply find out the equilibrium price, International supply.

Suppose we have a competitive market 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.

In the absence of foreign supply, illustrate what would be the equilibrium price also quantity for this market?

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M918356

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