Question
Suppose the domestic supply (Q_S) and demand (Q_D) for skateboards in Australia is represented by the following set of equations: Q_S=-60+3P Q_D=390-2P What are the
Suppose the domestic supply (Q_S) and demand (Q_D) for skateboards in Australia is represented by the following set of equations:
Q_S=-60+3P
Q_D=390-2P
What are the equilibrium price and quantity if there is no international trade? Show your calculations. What are the equilibrium quantities for Australia if the nation can trade freely with the rest of the world at a price of $75? Show your calculations. Discuss an effect of the shift from no trade to free trade on Australian consumer surplus and producer surplus? iv. What is the net national gain or loss for Australia?
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Project Finance In Construction
Authors: Tony Merna, Yang Chu, Faisal F. Al-Thani
1st Edition
1444334778, 978-1444334777
