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If the United States imports a specific product and exports a different product, what is the likely effect on the price of the product that the United States imports?
a) The price of the imported product increases because demand for the product increases.
b) The price of the imported product increases because the overall supply of the product decreases.
c) The relative price of the imported product decreases in the United States and increases in the rest of the world.
d) The price of the imported product decreases both in the United States and in the countries that export the product to the United States.
There is no way to identify family types for pricing purposes also all costs are fixed so to maximizing total income is equivalent to maximizing profit.
Calculate the new cost earned by sellers, the cost paid by clients, as well as the equilibrium quantity sold in the market.
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