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Please provide a detailed explanation on how to find the value of imports. 3537. The market for widgets has the following supply and demand curves:

Please provide a detailed explanation on how to find the value of imports.

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3537. The market for widgets has the following supply and demand curves: Supply: P = 10 + (1/3)Q Demand: P = 100 (1/2)Q Initially, the market is in equilibrium at P = $46, Q = 108. Questions 35 through 37 concern this market. 35. Suppose the government opens the border to free trade in widgets and foreign suppliers have a perfectly elastic supply at a price of $40 per unit. As a result the dollar value of widget imports is: A) $0 B) $40 C) $3600 D) $4800 E) $1380 F) $1200 G) $5520 H) $4140 1) $2400 I) none of the above

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