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No International Trade With international trade, there will be a world price for a box of contacts in addition to the other information we've examined. How will this affect you as a domestic supplier of 240 contacts? 200 160 Well, this will depend on the world price.. 120- 80 Vivan 40 Okay, so if the world price - the price you can get for a box of your contact lenses -- is greater than the domestic equilibrium price of $120, will you increase or decrease your quantity supplied of contact lenses? 0- 40 80 120 160 200 240 • Quantity Supplied - Quantity Demanded Domestic Market Price Quantity Supplied Quantity Demanded 240 20 20 220 40 40 200 her domestic contact lens manufacturers, we will decrease our 60 60 180 ty supplied. 80 80 160

No International Trade With international trade, there will be a world price for a box of contacts in addition to the other information we've examined. How will this affect you as a domestic supplier of 240 contacts? 200 160 Well, this will depend on the world price.. 120- 80 Vivan 40 Okay, so if the world price - the price you can get for a box of your contact lenses -- is greater than the domestic equilibrium price of $120, will you increase or decrease your quantity supplied of contact lenses? 0- 40 80 120 160 200 240 • Quantity Supplied - Quantity Demanded Domestic Market Price Quantity Supplied Quantity Demanded 240 20 20 220 40 40 200 her domestic contact lens manufacturers, we will decrease our 60 60 180 ty supplied. 80 80 160

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Graw Hill Macro- International Trade VIVian, we art gettiny Some bieANng iew on the contact lens market...The market is going to open for international trade! Domestic Market: No Trade Julio No International Trade With international trade, there will be a world price for a box of contacts in addition to the other information we've examined. How will this affect you as a domestic supplier of 240 - contacts? 200 160 Well, this will depend on the world price... 120 - 80 Vivan 40 Okay, so if the world price -- the price you can get for a box of your contact lenses -- is greater than the domestic equilibrium price of $120, will you increase or decrease your quantity supplied of contact lenses? 40 80 120 160 200 240 o Quantity Supplied o Quantity Demanded Julio Domestic Market Price Quantity Supplied Quantity Demanded 240 20 20 220 40 40 200 Like other domestic contact lens manufacturers, we will decrease our 60 60 180 quantity supplied. 80 80 160 100 100 140 Like other domestic contact lens manufacturers, we will increase our quantity supplied. 120 120 120 140 140 100
Transcribed Image Text:Graw Hill Macro- International Trade VIVian, we art gettiny Some bieANng iew on the contact lens market...The market is going to open for international trade! Domestic Market: No Trade Julio No International Trade With international trade, there will be a world price for a box of contacts in addition to the other information we've examined. How will this affect you as a domestic supplier of 240 - contacts? 200 160 Well, this will depend on the world price... 120 - 80 Vivan 40 Okay, so if the world price -- the price you can get for a box of your contact lenses -- is greater than the domestic equilibrium price of $120, will you increase or decrease your quantity supplied of contact lenses? 40 80 120 160 200 240 o Quantity Supplied o Quantity Demanded Julio Domestic Market Price Quantity Supplied Quantity Demanded 240 20 20 220 40 40 200 Like other domestic contact lens manufacturers, we will decrease our 60 60 180 quantity supplied. 80 80 160 100 100 140 Like other domestic contact lens manufacturers, we will increase our quantity supplied. 120 120 120 140 140 100
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