No International Trade With international trade, there will be a world price for a box of contacts in addition to the other information we've examined. How will this affect you as a domestic supplier of 240 contacts? 200 160 Well, this will depend on the world price.. 120- 80 Vivan 40 Okay, so if the world price - the price you can get for a box of your contact lenses -- is greater than the domestic equilibrium price of $120, will you increase or decrease your quantity supplied of contact lenses? 0- 40 80 120 160 200 240 • Quantity Supplied - Quantity Demanded Domestic Market Price Quantity Supplied Quantity Demanded 240 20 20 220 40 40 200 her domestic contact lens manufacturers, we will decrease our 60 60 180 ty supplied. 80 80 160

No International Trade With international trade, there will be a world price for a box of contacts in addition to the other information we've examined. How will this affect you as a domestic supplier of 240 contacts? 200 160 Well, this will depend on the world price.. 120- 80 Vivan 40 Okay, so if the world price - the price you can get for a box of your contact lenses -- is greater than the domestic equilibrium price of $120, will you increase or decrease your quantity supplied of contact lenses? 0- 40 80 120 160 200 240 • Quantity Supplied - Quantity Demanded Domestic Market Price Quantity Supplied Quantity Demanded 240 20 20 220 40 40 200 her domestic contact lens manufacturers, we will decrease our 60 60 180 ty supplied. 80 80 160

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 2CQQ

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Similar questions

How do trade barriers affect the average Income level in an economy?
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