Suppose that the demand for wheat from domestic buyers is given as: Qdd=1465-88p and the demand for
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Question:
Suppose that the demand for wheat from domestic buyers is given as: Qdd=1465-88p and the demand for export buyers is given as: Qde=1344-138p.
Find the market demand function by horizontally summing the domestic and export demand. What is the choke price for the market?
Draw a well labeled demand curve for the market.
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