What are the equilibrium quantities

Reference no: EM13495506

The demand and supply curves of the market for DVD at the local (US) market are as follow: P = 30 - Qd/2 and P= -1.5 + Qs/4
a. Find the equilibrium price and the equilibrium quantity when there is no international trade
b. What are the equilibrium quantities when the nations trade freely at price of $15?
Explain your answer

Reference no: EM13495506

Questions Cloud

3 key managerial insights from game theory : Name and explain 3 key managerial insights from Game Theory, as they relate to Costco's move to announce that they were closed on thanksgiving and that they care about there employees.

Who is a friend of the family and lives with them : Blair, who is divorced, maintains a home in which she, her twin sons, and her baby daughter live all year. The children's father, Ross, provides over half their support. No special arrangements exist between Blair and Ross.

Describe the meaning of unit travel : Describe the meaning of unit travel

What is the wavelength of the incident photons : Incident photons strike a soduim surface having a work function of 2.2 eV, causing photoelectric emission. What is the wavelength of the incident photons

What are the equilibrium quantities : What are the equilibrium quantities when the nations trade freely at price of $15? Explain your answer

The person credited with the first systematic expression : The person credited with the first systematic expression of the principle of comparative advantage was ( )

Calculate the surface charge density for the sheet : A small sphere whose mass is 7.00E-03 g. carries a charge of 2.00E-08 C. Calculate the surface charge density (in coulombs/meter^2) for the sheet

What is sallys filing status for 2012 : Tony supports the following individuals during the current year: Miranda, his former mother-in-law who lives in her own home and has no gross income; his cousin, Jeff, age 23, who is a full-time student, earns $7,000 during the year, and lives ..

What does the beta of a stock measure : You turn on the news and find out the stock market has gone up 10%. Based on the data in Table 10.6, by how much do you expect each of the following stocks to have gone up or down: (1) Starbucks, (2) Tiffany & Co., (3) Hershey, and (4) Exxon Mobil.

User Account

All Pages