Question

Consider the accompanying speculative data relating to a nation's imports, utilization, and creation of T-shirts following the expulsion of the MFA portion: Without MFA (Free Trade With MFA $2.00 World cost ($/shirt) $2.00 Domestic cost ($/shirt) $2.50 Domestic utilization (million shirts/year) 125 100 Domestic creation (million shirts/year) 75 50 75 Imports (million shirts/year) 25 MFA, multifibre game plan.

a)Calculate the amount leases that were procured under the share.

b)Determine what amount the nation has acquired from expulsion of the quantity?