Question
Egypt has the demand and supply functions for product X; P=2+3.Q s P=56-6.Q D P shows 1000 USD per tonnes of product X and Q
Egypt has the demand and supply functions for product X;
P=2+3.Qs P=56-6.QD
P shows 1000 USD per tonnes of product X and Q shows quantity demanded and supplied in tonnes.
Product X is freely traded in world market at P=14(000) per tonne. Egyptian government allows for free trade at first but then adds a tariff of 3(000) USD.
Question: What is the import amount AFTER TARIFF for Egypt?
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International Economics
Authors: Robert Carbaugh
15th edition
1285854357, 978-1305177093, 1305177096, 978-1285854359
