What is the equilibrium price in the absence of trade

Reference no: EM13244647

CRAAAZY PROFESSOR!
given the following data and assuming a constant relationshipbetween price and quantity;
Pus$ Qd-domestic Qs-domestic Qs-foreign
10 60 10 10
20 50 20 10
30 40 30 10
40 30 40 10
50 20 50 10
60 10 60 10
a) sketch the graph, clearly labeling all parts
b) what is the equilibrium price in the absence oftrade?
c) what will be the equilibrium price with trade?
d) if there is a trade barrier indicated by the dataabove which best fits the situation?

Reference no: EM13244647

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