Use the supply and demand data to complete the table. Price Quantity Demanded Quantity Supplied $5 5000 800 10 4000 1200 15 3000 1600 20 2000 2000 25 1000 2400 30 500 3000   Find the equilibrium price and quantity.   The country allows free trade with no restrictions. The free trade price of this good is $10.   Price   Quantity Demanded Domestically   Quantity Supplied Domestically   Import/Export   Quantity Imported/Exported

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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  1. Use the supply and demand data to complete the table.

Price

Quantity Demanded

Quantity Supplied

$5

5000

800

10

4000

1200

15

3000

1600

20

2000

2000

25

1000

2400

30

500

3000

 

  1. Find the equilibrium price and quantity.

 

  1. The country allows free trade with no restrictions. The free trade price of this good is $10.

 

Price

 

Quantity Demanded Domestically

 

Quantity Supplied Domestically

 

Import/Export

 

Quantity Imported/Exported

 

 

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  1. The country imposes a 50% tariff. Complete the following:

Price

 

Quantity Demanded Domestically

 

Quantity Supplied Domestically

 

Import/Export

 

Quantity Imported/Exported

 

Tariff Revenue

 

 

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