The domestic demand and supply for sugar are, respectively, Qd = 60,000 − 400P and QSD = 20,000 + 500P. The foreign supply is QSF = 20,000 + 100P. Suppose an import quota of 13,000 is imposed in the domestic market. What will be the new market price of sugar? Multiple Choice $15 $45 $30 $20

The domestic demand and supply for sugar are, respectively, Qd = 60,000 − 400P and QSD = 20,000 + 500P. The foreign supply is QSF = 20,000 + 100P. Suppose an import quota of 13,000 is imposed in the domestic market. What will be the new market price of sugar? Multiple Choice $15 $45 $30 $20

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The domestic demand and supply for sugar are, respectively, Q^d = 60,000 − 400P and Q^SD = 20,000 + 500P. The foreign supply is Q^SF = 20,000 + 100P. Suppose an import quota of 13,000 is imposed in the domestic market. What will be the new market price of sugar?

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