These are the 4 sub sections of one questions. Please answer asap Although there is demand in the local market, much of the demand for Bangladeshi Jute output has come from other countries. We are told that total demand is Q = 3583 - 301P; where, domestic demand is Qdd = 1417 - 104 P; export demand is Qe = 2166 - 197 P supply is Qs = 1767 + 202 P. (Note: total demand, Q = Qdd + Qe) (a) What is the equilibrium market price of jute? (b) Suppose, due to the recent pandemic, the export demand for jute falls by 50 percent. What happens to the price of jute in Bangladesh? (c) Now suppose the BD government wants to buy enough jute to raise the price to $5.800000000000001 per unit. With this drop in export demand, how much jute would the government have to buy? (d) How much would this cost the governmentgovernment?
These are the 4 sub sections of one questions. Please answer asap
Although there is
where, domestic demand is Qdd = 1417 - 104 P;
export demand is Qe = 2166 - 197 P
supply is Qs = 1767 + 202 P. (Note: total demand, Q = Qdd + Qe)
(a) What is the
(b) Suppose, due to the recent pandemic, the export demand for jute falls by 50 percent. What happens to the price of jute in Bangladesh?
(c) Now suppose the BD government wants to buy enough jute to raise the price to $5.800000000000001 per unit. With this drop in export demand, how much jute would the government have to buy?
(d) How much would this cost the governmentgovernment?
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