Find the equilibrium prices and quantities for autos

Assignment Help Business Economics

Reference no: EM13736659

1. Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2). Please regard phones as a homogenous product. Prices are all in dollar terms.

a. Assuming that there is no trade between countries please find the equilibrium prices and quantities for autos in the U.S. and Korea.

Reference no: EM13736659

Questions Cloud

Creating a performance grading : To correct this situation, you will begin by creating a performance grading form that will be used to assess the front-line supervisor's performance. Create a form that includes areas the supervisors should be graded on and the relative weight or ..

How consumers respond to various marketing efforts : Of the following, the best starting point to understanding how consumers respond to various marketing efforts

During an episode of hyperinflation : During an episode of hyperinflation, people tend to do which of the following?

What would be the tax revenue : Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2). Please regard phones as a homogenous product. Prices are all in ..

Find the equilibrium prices and quantities for autos : Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2). Please regard phones as a homogenous product. Prices are all in ..

Research typical business plans : My assignment is to research typical business plans,and then develop your first draft of a business plan with a Title/cover page, a Table of Contents, a Mission Statement, a Business Model

Marginal cost is constant across firms : What happens to price and output in the Cournot, Bertrand, and Stackelberg models if marginal costs increase by 10 percent? The market demand is p = a-bQ and the marginal cost is constant across firms, i.e. mc1 = mc2 = c. You may consider for two fir..

A demand curve shows the relationship between : A demand curve shows the relationship between:

How does lobbying work in government : How does lobbying work in government? Please use examples.

User Account

All Pages