Under free trade, the quantity of smartphones produced by local producers in Country A is 21266 per year and the quantity of smartphones bought in Country A is 82214 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 44191 per year and the quantity of smartphones bought in the aforementioned country is 61094 per year. What is the value of X?

Under free trade, the quantity of smartphones produced by local producers in Country A is 21266 per year and the quantity of smartphones bought in Country A is 82214 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 44191 per year and the quantity of smartphones bought in the aforementioned country is 61094 per year. What is the value of X?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter33: International Trade

Section: Chapter Questions

Problem 11QP

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