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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)
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