Multiple Choice
The demand for jeans in a country is given by D = 100 - 0.6P,where P is the price of a pair of jeans.Supply by domestic producers is given by S = 20 + 0.4P.The world price of a pair of jeans equals $30.In equilibrium,when this economy is closed to trade,domestic jeans production equals _________,and when this economy opens to trade,domestic jeans production equals __________.
A) 32;36
B) 32;52
C) 52;82
D) 52;32
E) 32;82
Correct Answer:

Verified
Correct Answer:
Verified
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