The problem states that domestic beef producers face a demand of $QD = 1000 - 5P$. The Chinese then acquire a taste for U.S. beef, resulting in their demand being $QD = 500 - 5P$. We need to find the new market demand.
2025/7/1
1. Problem Description
The problem states that domestic beef producers face a demand of . The Chinese then acquire a taste for U.S. beef, resulting in their demand being . We need to find the new market demand.
2. Solution Steps
To find the new market demand, we simply add the two demand equations together:
3. Final Answer
The market demand is for all P.
So the answer is d.