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.Suppose an import quota of 5,000 is imposed in the domestic market.What will be the new market price of sugar?
A) 20
B) 30
C) 40
D) 50
Correct Answer:
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