The equation for the demand curve for writing paper in Belgium is Q D = 350 -

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The equation for the demand curve for writing paper in Belgium is Q D = 350 - ( P /2) [or P =700 - 2 Q D ]

The equation for the supply curve for writing paper in Belgium is Q S = 220+ 5 P [or P = 40 + ( Q S /5)]

a. What are the equilibrium price and quantity if there is no international trade?

b. What are the equilibrium quantities for Belgium if the nation can trade freely with the rest of the world at a price of 120?

c. What is the effect of the shift from no trade to free trade on Belgian consumer surplus? On Belgian producer surplus? What is the net national gain or loss for Belgium?

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International Economics

ISBN: 9780078021770

16th Edition

Authors: Thomas Pugel

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Question Posted: Mar 23, 2024 10:00 AM

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The equation for the demand curve for writing paper in Belgium is Q D = 350 -

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a With no international trade equilibrium requires that domestic quantity demanded QD equals domesti...View the full answer

International Economics

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