Economics Assignments | Online Homework Help
October 9th, 2019
- Consider two countries, Canada and Mexico, with the following domestic demand and supply curves and equilibrium points for TV set. Answer the following questions.
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- Draw export supply and import demand curves for TV sets in the international market.
- What is the price range within which the international equilibrium price of TV falls?
- If the international market equilibrium price is $299, how many TV sets will be supplied by Canadian producers?
- If the world price is $400, which country gains the most after trade? Explain why.