Use the following table to answer the question(s)below for Country Y,which is open to trade.Column 1 shows the price of a product,column 2 shows the domestic quantity demanded domestically (Qd),and column 3 shows the domestic quantity supplied (Qs).

-Refer to the above table.At what price will there be neither exports nor imports?

Question

Use the following table to answer the question(s)below for Country Y,which is open to trade.Column 1 shows the price of a product,column 2 shows the domestic quantity demanded domestically (Qd),and column 3 shows the domestic quantity supplied (Qs).
 
-Refer to the above table.At what price will there be neither exports nor imports?

Quizplus · Accepted Answer

At a price of $7.00, the domestic quantity demanded (150) equals the domestic quantity supplied (150). At this price, there is no surplus or shortage, hence there will be neither exports nor imports.

Use the Following Table to Answer the Question(s)below for Country