The table indicates the U.S. domestic demand schedule and domestic supply schedule for commercial jet airplanes. the world price of a commercial jet airplane is $80 million.

Price Quantity Demanded Quantity Supplied

110 2501000

100 300 900

90 350800

80 400 700

70 450 600

60 500 500

50 550 400

40 600 300

30 650 200

Question 1: In autarky, how many commercial jet airplanes does the United States produce (_______), and at what price are they bought and sold (______)?

A. 600 70

B. 500 60

C. 400 50

D. 300 40

Question 2: With trade, what will the price for commercial jet airplanes be ? (_______). Will the United States import or export airplanes ? (_______).How many?(_______)

A. 80 export 300

B. 80 import 200

C. 80 export 200

D. 80 import 200