Question: Consider the demand function for processed pork in Canada The supply function for processed pork in Canada is . Q = 5 5 2 .
Consider the demand function for processed pork in Canada
The supply function for processed pork in Canada is
Q ppp pY
Qpph
p is the price of pork
Q is the quantity of pork demanded
measured in millions of kg per year
P is the price of beef $ per kg
P is the price of chicken $ per kgY is the income of consumers $P is the price of a hog $ per kg
Solve for the equilibrium price and quantity for pork
The eoulibrum price of pork is and the eaulibrium quanthty of porkismlion ka per year.Eter numeric resoonses usimo rea rumbers rounded to two decima' places.
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