Question

If the supply corn is Qn=b+0.2p and the supply by the rest of the world is Qr=e+0.8p, what is the world supply? What is the world inverse supply?

Answer 1

Q_n=b+0.2p and Q_r=e+0.8p

find average gradient:

$\frac{0.2+0.8}{2}$ =0.5

therefore the world supply will be

Q_w=e+0.5p

inverse supply

Q_w=e+0.5p

0.5p=q-e

p=2q-2e