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Q)2. Let Ireland be a small country. The demand and supply of coffee is given by: D=60 - 5P and S= - 10 + 10P,
Q)2. Let Ireland be a small country. The demand and supply of coffee is given by: D=60 - 5P and S= - 10 + 10P, which are represented in the diagram below. The world price of a ton of coffee is $5, and the government wishes to promote the domestic industry by imposing a subsidy of $2 per ton exported. D 5 3 20 25 35 40 45 60
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