Calculate the following values using Figure 17P-1, which shows domestic supply and demand for steel in the United States under autarky.

a. What is the equilibrium price and quantity of steel under autarky?
b. Suppose the post-trade domestic quantity supplied is 150 million. What is the domestic quantity demanded and the new world price?
c. Is the U.S. a net-exporter or net-importer of steel?
d. What quantity of steel is imported/exported?

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Price (s) 500 450 400 350 300 250 200 150 100 50 200 Quantity of steel (thousands of tons) 100 300 400