Multiple Choice
The demand for DVD players in a country is given by D = 300 - 0.2P,where P is the price of a DVD player.Supply by domestic producers is given by S = 100 + 0.8P.The world price of a DVD player equals $100 and this economy is open to trade.If a quota of 50 units is placed on DVD player imports,the quantity of DVD players produced domestically will change from ________ with no quota to ________ with the quota.
A) 180;220
B) 180;260
C) 260;220
D) 260;180
E) 260;170
Correct Answer:
Verified
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