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The demand and supply curves of the market for DVD at the local (US) market are as follow: P = 30 - Qd/2 and P= -1.5 + Qs/4
a. Find the equilibrium price and the equilibrium quantity when there is no international trade
b. What are the equilibrium quantities when the nations trade freely at price of $15?
Explain your answer

Microeconomics, Economics

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