Suppose the domestic supply (QSU.S.) and demand (QDU.S) for bicycles in the United States is represented by the following set of equations:QSU.S. = 2PQDU.S. = 200 - 2P.Demand (QD) and supply (QS) in the rest of the world is represented by the equations:QS = PQD =160 - P.Quantities are measured in thousands and the price, in U.S. dollars.In the absence of international trade, ________ thousand bicycles will be sold in the rest of the world at a per unit price of
A. 80; $80.
B. 50; $100.
C. 100; $100.
D. 100; $50.
Answer: A
Economics
You might also like to view...
The above table shows the market shares for all the landscaping services in a suburban area. Which of the following mergers would cause the greatest increase in the four-firm concentration ratio?
A) A and B B) D and E C) E and F D) six of the smallest firms
Economics
Of the following high-income countries, which has the highest male life expectancy at age 65?
A) Canada B) Japan C) the United Kingdom D) the United States
Economics