Domestic Demand for a Good Is Q_D = 3000 -

question 34

Essay

Domestic demand for a good is Q_D = 3000 - 25P.The domestic supply of the good is Q_S = 20P.Foreign producers can supply any quantity at a price (P)of $30.
a.What is the domestic equilibrium price and quantity?
b.At this domestic equilibrium price,how much of the good will be supplied by domestic producers and how much by foreign producers?

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