LGlve UstO HintQuestion 15 of 24<>Check AnswerThe table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in thetable to answer the questions.Price ($) per pound (lb) of cocoa beansPrice ($/lb)Cameroon quantityCameroon quantityNigeria quantityNigeria quantitydemanded (lb)supplied (lb)demanded (lb)supplied (Ib)1805001552102004601801806.2504102001605.42803602201403203202401253350280260115What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries?lbIquantity demanded, Cameroon:price, Cameroon:lbquantity demanded, Nigeria:price, Nigeria:%24%24

The equilibrium price and quantity is determined at where the quantity demand is equal to the…

Answered: LGlve Ust O Hint Question 15 of 24 <>…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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