Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta.Q_s is domestic quantity supplied and Q_d is domestic quantity demanded. $\begin{array}{c}\underline{\text { Domestic Market For Steel, Alpha }}\\\begin{array}{c}\underline{Q_{s}}\\ 60\\40\\30\\20\\10 \end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\10 \\20 \\30 \\40 \\50 \end{array}\end{array}$

$\begin{array}{c}\underline{\text { Domestic Market For Steel, Beta }}\\\begin{array}{c}\underline{Q_{s}}\\ 80 \\70 \\60 \\50 \\40\end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\20 \\30 \\40 \\50 \\60 \end{array}\end{array}$

Refer to the given data.At a world price of $2:

Question

Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta.Q_s is domestic quantity supplied and Q_d is domestic quantity demanded.

\begin{array}{c}\underline{\text { Domestic Market For Steel, Alpha }}\\\begin{array}{c}\underline{Q_{s}}\\ 60\\40\\30\\20\\10 \end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\10 \\20 \\30 \\40 \\50 \end{array}\end{array}

\begin{array}{c}\underline{\text { Domestic Market For Steel, Beta }}\\\begin{array}{c}\underline{Q_{s}}\\ 80 \\70 \\60 \\50 \\40\end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\20 \\30 \\40 \\50 \\60 \end{array}\end{array}

Refer to the given data.At a world price of $2:

Quizplus · Accepted Answer

At a world price of $2, the domestic quantity supplied in Alpha is Q_s = 10 units and the domestic quantity demanded is Q_d = 30 units. Thus, Alpha wants to import (Q_d - Q_s) = (30-10) = 20 units of steel. Beta's domestic quantity supplied and demanded are both 20 units, so they have no desire to import or export steel.

Answer the Question on the Basis of the Following Data