US Qc = 20- Pc with Canada Pc is 1/10

Us Qw = 16- 3Pw Canada 1/2 Wheat

A Exam 2 - ECON 150C1 SP20 X Exam 2 - ECON 150C1 SP20 0 X Problem: Agricultural trade b G simultaneous equilibrium de: ona.edu d21/le/content/881815/fullscreen/8721358/View Updates A Do you want updates now We are again interested in finding the simultaneous equilibrium in both markets. The demand for each crop in the combined market is unchanged, and there is still just one market price for corn and one market price for wheat. The difference is that now there are two potential sources of supply: U.S. farmers and Canadian farmers. Note again that there is only one simultaneous equilibrium. Because of the differences in productivity, U.S. farmers' rational response in some cases differs from the Canadian farmers' rational response. g) If Pc "Pw, then what will be the (total) quantity supplied of each crop (from farmers in both countries)? Is there a simultaneous equilibrium that has Pc Pw? [You must determine whether you can find prices for corn and wheat that cause the quantities demanded to match the quantities supplied.] h) If Pc > 5pw, then what will be the quantity supplied of each crop? Is there a simultaneous equilibrium that has Pc > 5pw? i) If Pw