Suppose that a country has a demand function for a laptop given by P = 30 – Qa and supply function given by P= 1 Q, where Pis the market price of laptop and Qd and Q, are quantity of laptop demanded and supplied in a country, respectively. 18. If this country engages in international trade and that world price of laptop is P" = 14, will this %3D country export or import a laptop after international trade? How many units?

Suppose that a country has a demand function for a laptop given by P = 30 – Qa and supply function given by P= 1 Q, where Pis the market price of laptop and Qd and Q, are quantity of laptop demanded and supplied in a country, respectively. 18. If this country engages in international trade and that world price of laptop is P" = 14, will this %3D country export or import a laptop after international trade? How many units?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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