EBK ECONOMICS TODAY
18th Edition
ISBN: 9780133920116
Author: Miller
Publisher: YUZU
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Chapter 32, Problem aFCT
To determine
Reason for imposing regulation on U.S. trash.
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The demand for cameras in a certain country is given by D=8000−30P, where P is the price of a camera. Supply by domestic camera producers is S=4000+10P. Suppose that world price of a camera is $150. If this country decides to trade, which of the following is true?
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3000 cameras will be exported
Domestic production of cameras will decrease by 500
Domestic production of cameras will increase by 500
2000 cameras will be imported
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