Domestic: Foreign: Qa D- 42 - 2"P Q. D- -2 + 2*P Q4 F = 72 - 3*P Q.F- -4 + P

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Given the supplied information for Domestic and Forgien, please help find #3, 4 and 5. Thank you.

Domestic:
Foreign:
Qa. D = 42 - 2"P
Qs. D=-2 + 2*P
QaF = 72 - 3*P
Q. F = -4 + P
Transcribed Image Text:Domestic: Foreign: Qa. D = 42 - 2"P Qs. D=-2 + 2*P QaF = 72 - 3*P Q. F = -4 + P
3. Find the Excess Demand and Supply curves for Domestic and Foreign
Qp, Esc, Dam=
Os, Es, Dam=
Qo, Excan, Fur=
Os. Escar, Far
On the graph below, accurately draw and fully label the zxes, excess demands, excess supplies, equilibrium trade volume and
equilibrium price in the global market.
4.
Global Market
$28
$24
$20
$16
$12
$8
$4
$0
16
24
32
40
48
56
64
72
80
Quantity
5. Find the global equilibrium price, P'e: and Free Trade Qu and Qs in both countries.
Q'n
Q'n Faniun
Os Deaie=
Q's Faneian
Transcribed Image Text:3. Find the Excess Demand and Supply curves for Domestic and Foreign Qp, Esc, Dam= Os, Es, Dam= Qo, Excan, Fur= Os. Escar, Far On the graph below, accurately draw and fully label the zxes, excess demands, excess supplies, equilibrium trade volume and equilibrium price in the global market. 4. Global Market $28 $24 $20 $16 $12 $8 $4 $0 16 24 32 40 48 56 64 72 80 Quantity 5. Find the global equilibrium price, P'e: and Free Trade Qu and Qs in both countries. Q'n Q'n Faniun Os Deaie= Q's Faneian
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