25 Country 1 P 10 20 15 GN 0 P 25 20 20 15 -S1 s1 225 Country 2 495 S2 P s2 25 15 -IP P -IP 10 IP 10 5 d1 Q 0 5 D2 D1 0 LO d2 03691215182124 0369 1215182124Q 0369 1215182124Q

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Related questions
Question

Under open trade, what will be the international price and quantity traded?

   

(a) $8 and 12 units.

   

(b) $9 and 18 units.

   

(c) $11 and 15 units.

   

(d) $11 and 9 units.

25
Country 1
P
10
20
15
GN
0
P
25
20
20
15
-S1
s1
225
Country 2
495
S2
P
s2
25
15
-IP
P
-IP
10
IP
10
5
d1 Q
0
5
D2
D1
0
LO
d2
03691215182124
0369 1215182124Q
0369 1215182124Q
Transcribed Image Text:25 Country 1 P 10 20 15 GN 0 P 25 20 20 15 -S1 s1 225 Country 2 495 S2 P s2 25 15 -IP P -IP 10 IP 10 5 d1 Q 0 5 D2 D1 0 LO d2 03691215182124 0369 1215182124Q 0369 1215182124Q
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