Suppose the domestic supply (Q^S) and demand (Q^D) for skateboards in the United States are given by the following set of equations: $$\begin{array} { l } Q ^ { S } = - 60 + 3 P \ Q ^ { D } = 390 - 2 P \end{array}$$ If the United States can imports skateboards from the rest of the world at a per unit price of $75, how many skateboards will be produced in the United States? A)165 B)240 C)285 D)215

Question

Quizplus · Accepted Answer

To find the quantity produced domestically, substitute the world price of $75 into the supply equation: $Q^S = -60 + 3(75) = 165$.

Suppose the Domestic Supply (QS) and Demand (QD) for Skateboards QS=−60+3PQD=390−2P\begin{array} { l } Q ^ { S } = - 60 + 3 P \\Q ^ { D } = 390 - 2 P\end{array}QS=−60+3PQD=390−2P​

Suppose the Domestic Supply (Q^S) and Demand (Q^D) for Skateboards $\begin{array} { l } Q ^ { S } = - 60 + 3 P \\Q ^ { D } = 390 - 2 P\end{array}$