Assume two countries thailand t and japan j have one good, Ask an Expert

Economics

Assume two countries, Thailand (T) and Japan (J), have one good: cameras. The demand (d) and supply (s) for cameras in Thailand and Japan is described by the following functions:

Qd(T)= 60 - P

Qs(T)= - 5 +1/4 P

Qd(J)= 80 - P

Qs(J)= - 10 + 1/2 P

P is the price measured in a common currency used in both countries, such as the Thai Baht.

Now assume that free trade occurs. The free-trade price goes to 56.36 Baht. Who exports and imports cameras and in what quantities?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91402998

Have any Question?Write your Review or question?

Related Questions in Business Economics

For each customer that calls into abc credit card billing

For each customer that calls into ABC credit card billing service call center, at the end of the phone conversation, the call center representative will offer each customer ONE of the following two products, a personal l ...

Test the following hypotheses of the difference in

Test the following hypotheses of the difference in population means by using the following data (α = .10) H0: µ1- µ2=0, Ha: µ1- µ2 Sample 1 : X=51.3 σ2=52 n=31; Sample 2: X=53.2 σ2=60 n=32 Use the critical value method t ...

Assume that combined with borrowing and irrational

Assume that combined with borrowing and irrational exuberance have driven up the value of existing financial securities at a geometric rate, specifically from $4 to $8 to $16 to $32 to $64 to $128 over a six-year time pe ...

A state department of transportation claims that the mean

A state Department of Transportation claims that the mean wait time for various services at its different location is more than 6 minutes. A random sample of 16 services at different locations has a mean wait time of 9.5 ...

Having trouble trying to understand how to summarize a

Having trouble trying to understand how to summarize a companies business activities... Please complete the following in order to help me better understand: For this example, use Costco. Please put together a description ...

Discuss three specific advantages and disadvantages

Discuss three specific advantages and disadvantages regarding the division of labor?

Why should we take selection and participation bias into

Why should we take selection and participation bias into account when analyzing data

Use the following information to answer the next eight

Use the following information to answer the next eight exercises. Groups of men from three different areas of the country are to be tested for mean weight. The entries in the table are the weights for the different group ...

Please discuss the followingas demand increased for these

Please discuss the following: As demand increased for these mortgage backed securities, lenders reacted by relaxing their approval standards to increase production. No longer were "all" borrowers required to document the ...

What is the role of local government leadership in assuring

What is the role of local government leadership in assuring that departments and divisions work together to achieve municipal goals and objectives?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert