Question #52471

If the supply of corn by the Namibia is Q_n=a+bp and the supply by the rest of the world is Q_r=c+ep, what is the world supply? What is the world inverse supply?

Expert's answer

The world supply can be calculated as follows:

Q_w = Q_n + Q_r

So,

Q_w = a + bp + c + ep = a + c + p(b + e)

Then the inverse supply equation would be:

P = (Q_w – a – c)/(b + e)

Q_w = Q_n + Q_r

So,

Q_w = a + bp + c + ep = a + c + p(b + e)

Then the inverse supply equation would be:

P = (Q_w – a – c)/(b + e)

## Comments

## Leave a comment