Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2021 demand and supply equations for aluminium in Canada are as follows: P = $ 100 - QD Can +Potts (1) P = $

image text in transcribed

image text in transcribed
The 2021 demand and supply equations for aluminium in Canada are as follows: P = $ 100 - QD Can +Potts (1) P = $ 20 + 3Qs Can (2) where On www is the demand for aluminium in Canada by Canadian and Pottsvillian consumers and Qs Can is the quantity supplied by Canadian firms. In 2022, Pottsville will no longer purchase Canadian aluminium. The previous demand by Pottsvillians is given by is given by P =90 - 3 QD Potts (3) What are the economic effects in Canada in 2022? Price Original price (1 mark) Original output (1 mark) New price in 2022 (6 marks) New output in 2022 (6 marks) Original purchases (2021) by Pottsvillians (2 marks) Original purchases (2022) by Canadians (2 marks) 2022 purchases by Canadians (2 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Driven Technology

Authors: Paige Baltzan

8th Edition

1259924920, 978-1259924927

More Books

Students also viewed these Economics questions

Question

Briefly explain the qualities of an able supervisor

Answered: 1 week ago

Question

Define policy making?

Answered: 1 week ago

Question

Define co-ordination?

Answered: 1 week ago

Question

What are the role of supervisors ?

Answered: 1 week ago