Question

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?

Answer 1

In this case, the total supply of sugar in the domestic market is 30,000 + 400P.

Step-by-step explanation:

To find the total supply of sugar in the domestic market, we need to add the domestic supply and the foreign supply.

1. Domestic supply:

The domestic supply for sugar is given by the equation QSD = 10,000 + 300P, where QSD represents the quantity supplied and P represents the price.

2. Foreign supply:

The foreign supply for sugar is given by the equation QSF = 20,000 + 100P, where QSF represents the quantity supplied and P represents the price.

3. Total supply:

To find the total supply in the domestic market, we need to add the domestic supply and the foreign supply.

Total Supply = Domestic Supply + Foreign Supply

= QSD + QSF

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

= 30,000 + 400P

Therefore, the total supply of sugar in the domestic market is 30,000 + 400P.

Answer 2

Answer: Total supply of sugar = 30,000 + 400P

Step-by-step 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