Supply and demand curves and compute daily export quantity

Reference no: EM13321768

Ecuador exports oil at the world price P, $95 per barrel. Its supply in barrels per day is S = 25000 + 5000P with P in dollars. Domestic demand is D = 75000 - 500P. Draw the supply and demand curves and compute daily export quantity and the value per year

Reference no: EM13321768

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Supply and demand curves and compute daily export quantity : Ecuador exports oil at the world price P, $95 per barrel. Its supply in barrels per day is S = 25000 + 5000P with P in dollars. Domestic demand is D = 75000 - 500P. Draw the supply and demand curves and compute daily export quantity and the value per..

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