Essay
Table 13.14 shows the output of kumquats per month.
-Suppose the following domestic demand and supply schedule for Canada's HDTV industry:
a)In the absence of free trade,what is the equilibrium price and quantity traded domestically for Canada's HDTV industry?
b)Suppose the international price for a laptop is $2,300.Will Canada export or import HDTVs? How many units?
c)Now suppose the Canadian government limits the number of imported HDTVs to 2,000 units.How many units will Canada import and what will be the equilibrium price?
Correct Answer:
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a)$2600 and 17,000 units.
b)Ca...View Answer
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Correct Answer:
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b)Ca...
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