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 exports be equal to 100 units?

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 exports be equal to 100 units?

Quizplus · Accepted Answer

To find the price at which exports will be equal to 100 units, we need to look at the total quantity supplied (Qs) at each price. At a price of $6.00, the total quantity supplied (Qs) is 200 and the total quantity demanded domestically (Qd) is 150, which means the excess supply is 50 units. At a price of $7.00, the total quantity supplied (Qs) is 175 and the total quantity demanded domestically (Qd) is 125, which means the excess supply is 50 units as well. At a price of $8.00, the total quantity supplied (Qs) is 150 and the total quantity demanded domestically (Qd) is 100, which means the excess supply is 50 units. At a price of $9.00, the total quantity supplied (Qs) is 125 and the total quantity demanded domestically (Qd) is 75, which means the excess supply is 50 units. 
Therefore, exports will be equal to 100 units at a price of $8.00.

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