What would be equilibrium price and quantity in each country

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Problem

I. What would be the equilibrium price and quantity in each country in a world without trade? How can you tell?

II. What would be the equilibrium price and quantity in each country if trade is allowed occur? How can you tell?

III. Sketch two supply and demand diagrams, one for each country, in the situation be trade. Get the instant assignment help.

IV. On those diagrams, show the equilibrium price and the levels of exports and import in the world after trade.

V. If the Land of Submarines imposes an anti-dumping import quota of 30, explain in general terms whether it will benefit or injure consumers and producers in each country.

VI. Does your general answer change if the Land of Submarines imposes an import quota of 70?

Reference no: EM133944960

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