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?

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Quantity of jets Price of jet (millions) $120 110 100 90 80 70 60 50 Quantity of jets supplied demanded 100 150 1,000 250 300 350 700 400 450 300