The diagram below shows the domestic demand and supply curves in the market for newsprint in Paperland. FIGURE 32-5 Refer to Figure 32-5.If Paperland does not engage in international trade,the equilibrium quantity of newsprint produced domestically will be

Question

The diagram below shows the domestic demand and supply curves in the market for newsprint in Paperland.  FIGURE 32-5 Refer to Figure 32-5.If Paperland does not engage in international trade,the equilibrium quantity of newsprint produced domestically will be

Quizplus · Accepted Answer

The equilibrium quantity is where the demand and supply curves intersect. In this case, that is at a quantity of 13,000. This is the quantity of newsprint that will be produced domestically without international trade.

The Diagram Below Shows the Domestic Demand and Supply Curves