For a small country called Boxland, the equation of the domestic demand curve for cardboard is QD = 210 − 2P, where QD represents the domestic quantity of cardboard demanded, in tons, and P represents the price of a ton of cardboard. For Boxland, the equation of the domestic supply curve for cardboard is QS = –90 + 3P, where QS represents the domestic quantity of cardboard supplied, in tons, and P again represents the price of a ton of cardboard. . If Boxland prohibits international trade in cardboard, then the equilibrium price of a ton of cardboard is
For a small country called Boxland, the equation of the domestic demand curve for cardboard is QD = 210 − 2P, where QD represents the domestic quantity of cardboard demanded, in tons, and P represents the price of a ton of cardboard. For Boxland, the equation of the domestic supply curve for cardboard is QS = –90 + 3P, where QS represents the domestic quantity of cardboard supplied, in tons, and P again represents the price of a ton of cardboard. . If Boxland prohibits international trade in cardboard, then the equilibrium price of a ton of cardboard is
Chapter4: The Aggregate Economy
Section: Chapter Questions
Problem 4E
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For a small country called Boxland, the equation of the domestic demand curve for cardboard is QD = 210 − 2P, where QD represents the domestic quantity of cardboard demanded, in tons, and P represents the price of a ton of cardboard. For Boxland, the equation of the domestic supply curve for cardboard is QS = –90 + 3P, where QS represents the domestic quantity of cardboard supplied, in tons, and P again represents the price of a ton of cardboard.
. If Boxland prohibits international trade in cardboard, then the equilibrium price of a ton of cardboard is
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