ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Under free trade, the quantity of smartphones produced by local producers in Country A is 3563 per year and the quantity of smartphones bought in Country A is 98569 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 42862 per year and the quantity of smartphones bought in the aforementioned country is 66649 per year. What is the value of X?

Under autarky, the equilibrium quantity of chairs in India is 114284 per year. Once free trade is introduced with the world, quantity of chairs produced in India is 186969 per year and quantity of chairs purchased by Indian citizens is 62789 per year. What is the volume of exports of chair from India under free trade?

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