A semiconductor is a key component in your laptop, cell phone, and iPod. The table provides information
Question:
a. With no international trade, what would be the price of a semiconductor and how many semiconductors a year would be bought and sold in the United States?
b. Does the United States have a comparative advantage in producing semiconductors?
Transcribed Image Text:
Quantity demanded Quantity supplied Price (dollars per unit 10 12 14 16 18 20 (billions of units per year 25 20 15 10 20 40 60 80 100
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