Required: a) calculate how many units of good A will be imported by the country? b) Calculate the domestic quantity supplied after trade c) Calculate the domestic quantity demanded after trade d) If the government limits the number of imports to 100 units of good A, calculate the new price e) Calculate the new domestic quantity supplied after the quota f) Calculate the new domestic quantity demanded after the quota.
Required: a) calculate how many units of good A will be imported by the country? b) Calculate the domestic quantity supplied after trade c) Calculate the domestic quantity demanded after trade d) If the government limits the number of imports to 100 units of good A, calculate the new price e) Calculate the new domestic quantity supplied after the quota f) Calculate the new domestic quantity demanded after the quota.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 9PA
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1. Answer question a, b, c, d, e and f.
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