Question

at a world price of $5 with free and open trade, country b must import calculators. if country a has a domestic quantity demanded of 55 calculators and a domestic supply of 60 calculators, then how many calculators will country b likely import?

Answer 1

In the given case, when if country b has a domestic quantity demand of 55 calculators and a domestic supply of 60 calculators country b is likely to import 5 calculators.

What are import and export?

Exports are items that are sent to be sold in other nations, whereas imports are things that are bought from other nations owing to a lack of resources or lack of understanding of how they were made.

In the given case, if country a has a domestic quantity demanded of 55 calculators and a domestic supply of 60 calculators, they have the remaining 5 calculators which they are most likely to import after fulfilling domestic needs.

Learn more about import  and export, here:

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