-The above figure shows the U.S.market for replacement cell phone batteries.When there is no international trade,the equilibrium price is ________ per battery and when there is international trade the equilibrium price is ________ per battery.

Question

Quizplus · Accepted Answer

Without international trade, the equilibrium price is determined by the intersection of domestic supply and demand curves, which typically results in a higher price due to limited supply. With international trade, the supply increases as imports are allowed, leading to a lower equilibrium price due to the larger supply meeting the demand. Therefore, the correct answer involves a decrease in price when moving from no international trade to international trade.

-The Above Figure Shows the U