Question
Suppose the supply and demand for the domestic bike market are given as the equation below: Demand: Qd=108-2.2*p Supply: Qs=15+1.4*p Suppose the world price of
Suppose the supply and demand for the domestic bike market are given as the equation below:
Demand: Qd=108-2.2*p
Supply: Qs=15+1.4*p
Suppose the world price of bike is 12, what is the amount of export/import of bike in this market? Use positive number for import, and negative number for export.
(Hint: round your answer in 2 decimal places)
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Macroeconomics Theories and Policies
Authors: Richard T. Froyen
10th edition
013283152X, 978-0132831529
