The table shows the hypothetical demand and supply for coffee beans in two countries: Mexico and Armenia. Price ($) per pound of coffee beans Price ($/lb) Mexico quantity demanded (lb) Mexico quantity supplied (lb) Armenia quantity demanded (lb) Armenia quantity supplied (lb) 8 180 500 155 210 7 200 460 180 180 6 250 410 200 160 5 280 360 220 140 4 320 320 240 125 3 350 280 260 115 In autarky, what would the equilibrium price and quantity be in Mexico and Armenia? equilibrium price in Mexico:  $     equilibrium quantity in Mexico:  lb   equilibrium price in Armenia:  $     equilibrium quantity in Armenia:  lb

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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The table shows the hypothetical demand and supply for coffee beans in two countries: Mexico and Armenia.

Price ($) per pound of coffee beans
Price ($/lb) Mexico quantity demanded (lb) Mexico quantity supplied (lb) Armenia quantity demanded (lb) Armenia quantity supplied (lb)
8 180 500 155 210
7 200 460 180 180
6 250 410 200 160
5 280 360 220 140
4 320 320 240 125
3 350 280 260 115

In autarky, what would the equilibrium price and quantity be in Mexico and Armenia?

equilibrium price in Mexico:  $
 
 
equilibrium quantity in Mexico:  lb
 
equilibrium price in Armenia:  $
 
 
equilibrium quantity in Armenia:  lb
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