Question
Consider a large country with the following demand and supply functions: Q D = 100 - P Q S = P The country imports this
Consider a large country with the following demand and supply functions:
QD = 100 - P
QS = P
The country imports this product and the world export supply function is as follows:
QW = 3PW
The price under free trade is PW. If this country imposes a $4/unit specific tariff, how much the domestic price will increase?
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The Wisdom Of Crowds
Authors: James Surowiecki
1st Edition
0385721706, 9780385721707
