Table: Semiconductors $$\begin{array} { c c c }
\hline \text { Price (per unit in dollars) } & \begin{array} { l }
\text { Quantity Demanded of } \
\text { Semiconductors (Domestic) }
\end{array} & \begin{array} { l }
\text { Quantity Supplied of } \
\text { Semiconductors (Domesti }
\end{array} \
\hline \$ 3.00 & 500 & 700 \
2.50 & 580 & 650 \
2.00 & 600 & 600 \
1.50 & 700 & 550 \
1.00 & 850 & 500 \
\hline
\end{array}$$ If the domestic economy in this table opens up to international trade at the world price of $1.50 per semiconductor, this economy will:

Question

Table: Semiconductors $$\begin{array} { c c c } 
\hline \text { Price (per unit in dollars) } & \begin{array} { l } 
\text { Quantity Demanded of } \
\text { Semiconductors (Domestic) }
\end{array} & \begin{array} { l } 
\text { Quantity Supplied of } \
\text { Semiconductors (Domesti }
\end{array} \
\hline \$ 3.00 & 500 & 700 \
2.50 & 580 & 650 \
2.00 & 600 & 600 \
1.50 & 700 & 550 \
1.00 & 850 & 500 \
\hline
\end{array}$$ If the domestic economy in this table opens up to international trade at the world price of $1.50 per semiconductor, this economy will:

Quizplus · Accepted Answer

At the world price of $1.50, the domestic quantity demanded is 700, and the quantity supplied is 550, resulting in an import of 150 semiconductors (700 - 550 = 150).

Table: Semiconductors If the Domestic Economy in This Table Opens Up to