(Answered) For a particular product country as supply and demand are

Economics

For a particular product, Country A's supply and demand are represented by the following functions:

Q_s = 2 + P; Q_d = 52 - P

Suppose Country A is a small country (which cannot influence the world price). In free trade, Country C can export the product for $10 (PC = $10) and Country B for $15 (PB = $15).

Situation 1 - free trade: If there is free trade, where does Country A import (from Country B or Country C)? How much does it import?

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Business Economics, Economics

Category:- Business Economics
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