Domestic Demand Function: p= 80-4Q Domestic Supply Function: p= 20+2.5Q There was an international trade world price of $30 and now it dropped to $20 how w

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter2: The One Lesson Of Business
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Domestic Demand Function:

p= 80-4Q

Domestic Supply Function:

p= 20+2.5Q

There was an international trade world price of $30 and now it dropped to $20 how will that decline the producer surplus?

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