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19 February, 05:28

The domestic demand and supply for sugar are Qd = 40,000 - 200P and QSD = 10,000 + 300P. The foreign supply is QSF = 20,000 + 100P. What is the total supply of sugar in the domestic market?

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  1. 19 February, 09:16
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    Answer: Total supply of sugar = 30,000 + 400P

    Explanation:

    Given that,

    Domestic demand for sugar: Qd = 40,000 - 200P

    Domestic supply for sugar: QSD = 10,000 + 300P

    Foreign supply: QSF = 20,000 + 100P

    Total supply of sugar = Domestic supply + Foreign supply

    = QSD + QSF

    = 10,000 + 300P + 20,000 + 100P

    = 30,000 + 400P

    Therefore,

    Total supply of sugar = 30,000 + 400P
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