Q3.Sugar, which is an essential product in Sri Lanka and other countries, has differer demand and supply curves in different countries due to the difference in technology location, weather, people consumption patterns, preferences etc. Assuming that the suppl and demand curves in the Sri Lankan sugar industry are: (Assume the local price is also in dollars ($) Supply of Sugar in Sri Lanka (Unit: 1000 KGs) Qs = P Demand of Sugar in Sri Lanka (Unit: 1000NKGS) Qd = 4 – P

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