Describe the free trade equilibrium. then compute and, Ask an Expert

Economics

Q. As a painter $3 per gallon is 35 gallons of $105 per month. At $3.50 per gallon, drops to 20 gallons of $75 per month. Price range, the demand is relatively elastic. Calculation of Price Elasticity of Demand

Q. A nation is "small", unable to affect world prices. It imports peanuts at the price of $10 per bag. The demand curve is

D=800-20P
The supply curve is
S=100+10P

Describe the free trade equilibrium. Then compute and graph the following effects of an import quota that limits imports to 100 bags.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9224534

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