Consider that Thailand and the Philippines are the only countries in the market for laptops. Their domestic market for laptops are described by the following equations: Thailand Demand: P = 3500 - 40Q and Supply: Q = 500 + 20Q Philippines Demand: P = 2500 - 40Q and Supply: Q = 400 + 20Q where P is in dollars and Q is the quantity of laptops in thousands. Currently there is no trade agreement on laptops between the countries, and these domestic markets are in equilibrium. (Question 5 of 14) Now consider that the two countries enter into a trade agreement (free trade) where the world price of laptops is $1300 As a result of the free trade agreement, what is the quantity of laptops (in thousands) demanded in Thailand? (report your answer at 2 decimal places) Correct Answer: 55 Answer range +/- 0 (55 - 55 )