Will the united states import or export airplanes

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Reference no: EM131530399

Question: The accompanying table indicates the U.S. domestic demand schedule and domestic supply schedule for commercial jet airplanes. Suppose that the world price of a commercial jet airplane is $100 million.

a. In autarky, how many commercial jet airplanes does the United States produce, and at what price are they bought and sold?

b. With trade, what will the price for commercial jet airplanes be? Will the United States import or export airplanes? How many?

Reference no: EM131530399

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