Suppose that the world price of baseball caps is €1 and there are no import restrictions on this product. Assume that Spanish consumers are indifferent between domestic and imported baseball caps. a. What quantity of baseball caps will domestic suppliers supply to domestic consumers ?__________thousands

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Suppose that the world price of baseball caps is €1 and there are no import restrictions on this product. Assume that Spanish consumers are indifferent between domestic and imported baseball caps. a. What quantity of baseball caps will domestic suppliers supply to domestic consumers ?__________thousands

The figure below shows the hypothetical domestic supply and demand for baseball caps in the country of Spain.
Domestic Supply and Demand for Baseball Caps
Spain
Price (€ per cap)
10
9
8
st
3
2
1
0
10 20 30 40 50 60 70 80 90 100
Baseball caps (thousands per month)
Transcribed Image Text:The figure below shows the hypothetical domestic supply and demand for baseball caps in the country of Spain. Domestic Supply and Demand for Baseball Caps Spain Price (€ per cap) 10 9 8 st 3 2 1 0 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month)
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