et us consider the case of Good X in Malaysia. The demand and supply functions for Good X in Malaysia are Demand function: QD=363−2P Supply function: QS=22+P If the world price is 70, then is Malaysia an importer or exporter? Find out the quantity of imports at Pw=70 If import quota was 80 units what will be the new price in the Malaysian market? How many Good X will be produced domestically after quota has been implemented? How many Good X will be consumed by domestic consumers after quota has been implemented? What will be the import after implementing import quota of 80 units? (Please give your answers in two decimal places) What is the percentage change in imports after the imposition of import quota? Please give your answers in two decimal places, Multiply by 100 to convert into percenatge (if you get 0.40 then submit 40 in the answer)
Let us consider the case of Good X in Malaysia. The
Demand function: QD=363−2P
Supply function: QS=22+P
If the world
Find out the quantity of imports at Pw=70
If import quota was 80 units what will be the new price in the Malaysian market?
How many Good X will be produced domestically after quota has been implemented?
How many Good X will be consumed by domestic consumers after quota has been implemented?
What will be the import after implementing import quota of 80 units?
(Please give your answers in two decimal places)
What is the percentage change in imports after the imposition of import quota?
Please give your answers in two decimal places, Multiply by 100 to convert into percenatge (if you get 0.40 then submit 40 in the answer)
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