Suppose domestic demand and domestic supply in a market are given by the following equations: Q=35-P Q=5+P

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Suppose domestic demand and domestic supply in a market are given by the following equations:

Q=35-P

Q=5+P

Suppose the world price in this market is $10 per unit. If the country allows free trade, how many units will be imported/exported? If a tariff os $2/unit is imposed on imports, how many units will be imported/exported with such a tariff?

Posted Date: Jul 01, 2024 08:30 AM

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Suppose domestic demand and domestic supply in a market are given by the following equations: Q=35-P Q=5+P

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