QUESTION 10Assume that Japan is the main supplier of cars to the US. Japanese supply is given by Qs = 40p. American demand is given by Qd =8000-10p. What is the price in this market.80100160O 200QUESTION 11What is US consumer surplus.578 thousandO 245 thousandO 2.048 millionO 1.025 millionQUESTION 12What is Japanese producer surplus.700 thousand512 thousand500 thousand1.4 million

The equilibrium price is attained at a point where the Quantity demanded is equal to the quantity…

QUESTION 10 Assume that Japan is the main supplier of cars to the US. Japanese supply is given by Qs = 40p. American demand is given by Qd = 8000-10p. What is the price in this market. O 80 O 100 160 200

QUESTION 10 Assume that Japan is the main supplier of cars to the US. Japanese supply is given by Qs = 40p. American demand is given by Qd = 8000-10p. What is the price in this market. O 80 O 100 160 200

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter17: International Trade

Section: Chapter Questions

Problem 2.5P

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