Under autarky, the equilibrium quantity of chairs in India is 101022 per year. Once free trade is introduced with the world, quantity of chairs produced in India is 174042 per year and quantity of chairs purchased by Indian citizens is 83141 per year. What is the volume of exports of chair from India under free trade?

Under autarky, the equilibrium quantity of chairs in India is 101022 per year. Once free trade is introduced with the world, quantity of chairs produced in India is 174042 per year and quantity of chairs purchased by Indian citizens is 83141 per year. What is the volume of exports of chair from India under free trade?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 54CTQ: Trade has income distribution effects. For example, suppose that because of a government-negotiated...

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