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Suppose Domestic Beef Producers Face Demand of QD = 1000

Question 44

Multiple Choice

Suppose domestic beef producers face demand of QD = 1000 - 5P.Suppose the Chinese acquire a taste for U.S.beef such that their demand is QD = 500 - 5P.Market demand is now


A) 1000 - 10P for all P
B) 1500 - 10P for all P
C) 1500 - 5P for all P
D) 1000 - 5P for P > 100 and 1500 - 10P for P < 100

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