Question
Consider a market in a small country with a domestic demand curve of P = 28-q and a domestic supply curve of P = 3q.
Consider a market in a small country with a domestic demand curve of P = 28-q and a domestic supply curve of P = 3q. The world price is $4 per unit. If the country opens itself up to international trade what is the quantity of goods that will be imported? (rounded to 2 decimal places if necessary)
Give typed answer ASAP with proper explanation
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
