In October 2018 Canada agree to open the dairy market to US producers as part of the new NAFTAagreement (USMCA).Use the following information to find the price and the number of firms in each country's market, and theprice and number of firms in the aggregate market.Demand functionFor country i (i=USA or Canada) P, = 6000 + 25Cost Function C, = 1,000, 000+ 6000 * Q,For country i (i=USA or Canada)Market size• Market size Canada Scananda= 1,000, 000• Market size USA S,"S= 4,000, 000The number of firms in Canada is equal to:Answer:Price in Canada is equal to:Answer:Number of firms in USA is equal to:Answer:Price in USA is equal toAnswer:Number of firms in the integrated market is equal to:Answer:

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In October 2018 Canada agree to open the dairy market to US producers as part of the new NAFTA agreement (USMCA). Use the following information to find the price and the number of firms in each country's market, and the price and number of firms in the aggregate market. Demand function For country i (i=USA or Canada) P, = 6000 + Cost Function C, = 1,000, 000 + 6000 * Q, For country i (i=USA or Canada) Market size Market size Canada Sconanda = 1,000, 000 • Market size USA S,S4 = 4, 000, 000 The number of firms in Canada is equal to: Answer: Price in Canada is equal to: Answer: Number of firms in USA is equal to: Answer:

In October 2018 Canada agree to open the dairy market to US producers as part of the new NAFTA agreement (USMCA). Use the following information to find the price and the number of firms in each country's market, and the price and number of firms in the aggregate market. Demand function For country i (i=USA or Canada) P, = 6000 + Cost Function C, = 1,000, 000 + 6000 * Q, For country i (i=USA or Canada) Market size Market size Canada Sconanda = 1,000, 000 • Market size USA S,S4 = 4, 000, 000 The number of firms in Canada is equal to: Answer: Price in Canada is equal to: Answer: Number of firms in USA is equal to: Answer:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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