The answer should be written in dollars and not in quantities.
Question 8
Suppose there are only two countries in the world, Country A and Country B. The following table contains information on each country's demand and supply of some goods.
Country A
Country B
Demand
Q = 187 - 1P
Q = 137 - 3P
Supply
Q = 3P - 14
Q = 3P - 26
If there is free trade between these two countries, and this is the only good in which these two nations trade, what would be the value of country B's trade balance?
Round your answer to two decimal places. Remember, the trade balance is measured in dollars, not in quantities. If your answer is negative, be sure to include the negative sign.
The answer should be written in dollars and not in quantities.
Question 8
Suppose there are only two countries in the world, Country A and Country B. The following table contains information on each country's demand and supply of some goods.
| Country A | Country B | |
| Demand | Q = 187 - 1P | Q = 137 - 3P |
| Supply | Q = 3P - 14 | Q = 3P - 26 |
If there is free trade between these two countries, and this is the only good in which these two nations trade, what would be the value of country B's trade balance?
Round your answer to two decimal places. Remember, the trade balance is measured in dollars, not in quantities. If your answer is negative, be sure to include the negative sign.
Related textbook solutions
Related questions
QUESTION 7
Suppose there are only two countries in the world, Country A and Country B. The following table contains information on each country's demand and supply of some good.
| Country A | Country B | |
| Demand | Q = 107 - 2P | Q = 167 - 1P |
| Supply | Q = 1P - 28 | Q = 3P - 17 |
If there is free trade between these two countries, what would be the quantity of Net Exports in Country A?
Round your answer to two decimal places. Remember, Net Exports is Exports - Imports. If your answer is negative, be sure to include the negative sign.
QUESTION 8
Suppose there are only two countries in the world, Country A and Country B. The following table contains information on each country's demand and supply of some good.
| Country A | Country B | |
| Demand | Q = 187 - 1P | Q = 137 - 3P |
| Supply | Q = 3P - 14 | Q = 3P - 26 |
If there is free trade between these two countries, and this is the only good in which these two nations trade, what would be the value of Country B's Trade Balance?
