For a small country called Boxland, the equation of the domestic demand curve for cardboard is QD = 380 − 2P, where QD represents the domestic quantity of cardboard demanded, in tons, and P represents the price of a ton of cardboard. For Boxland, the equation of the domestic supply curve for cardboard is QS = –60 + 3P, where QS represents the domestic quantity of cardboard supplied, in tons, and P again represents the price of a ton of cardboard. Refer to Scenario 9-1. Suppose the world price of cardboard is $139 and international trade is allowed. Then Boxland’s consumers demand Group of answer choices 204 tons of cardboard and Boxland’s producers supply 357 tons of cardboard. 204 tons of cardboard and Boxland’s producers supply 204 tons of cardboard. 102 tons of cardboard and Boxland’s producers supply 204 tons of cardboard. 102 tons of cardboard and Boxland’s producers supply 357 tons of cardboard.
For a small country called Boxland, the equation of the domestic demand curve for cardboard is QD = 380 − 2P, where QD represents the domestic quantity of cardboard demanded, in tons, and P represents the price of a ton of cardboard. For Boxland, the equation of the domestic supply curve for cardboard is QS = –60 + 3P, where QS represents the domestic quantity of cardboard supplied, in tons, and P again represents the price of a ton of cardboard. Refer to Scenario 9-1. Suppose the world price of cardboard is $139 and international trade is allowed. Then Boxland’s consumers demand Group of answer choices 204 tons of cardboard and Boxland’s producers supply 357 tons of cardboard. 204 tons of cardboard and Boxland’s producers supply 204 tons of cardboard. 102 tons of cardboard and Boxland’s producers supply 204 tons of cardboard. 102 tons of cardboard and Boxland’s producers supply 357 tons of cardboard.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Scenario 9-1
For a small country called Boxland, the equation of the domestic demand curve for cardboard is QD = 380 − 2P, where QD represents the domestic quantity of cardboard demanded, in tons, and P represents the
Refer to Scenario 9-1. Suppose the world price of cardboard is $139 and international trade is allowed. Then Boxland’s consumers demand
Group of answer choices
204 tons of cardboard and Boxland’s producers supply 357 tons of cardboard.
204 tons of cardboard and Boxland’s producers supply 204 tons of cardboard.
102 tons of cardboard and Boxland’s producers supply 204 tons of cardboard.
102 tons of cardboard and Boxland’s producers supply 357 tons of cardboard.
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