Under free trade, the quantity of smartphones produced by local producers in Country A is 15950 per year and the quantity of smartphones bought in Country A is 98619 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 43803 per year and the quantity of smartphones bought in the aforementioned country is 70085 per year. What is the value of X?
Under free trade, the quantity of smartphones produced by local producers in Country A is 15950 per year and the quantity of smartphones bought in Country A is 98619 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 43803 per year and the quantity of smartphones bought in the aforementioned country is 70085 per year. What is the value of X?
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter18: Gaining From International Trade
Section: Chapter Questions
Problem 10CQ
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