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tangare [24]
3 years ago
11

Assume the small-country model is applicable. If the world price of the product is $6 and an import quota of 400 units is impose

d on the product, then the equilibrium price in Marketopia would be ____ and the total quantity available in Marketopia would be ________ units.
Business
1 answer:
algol133 years ago
6 0

Answer:

Equilibrium price = $6

Total quantity in the market would be > 400 units ( unchanged )

Explanation:

Applying small=country model

world price of product = $6

import quota = 400 units

The Equilibrium price in Marketopia would be $6 and the total quantity available in Marketopia would > 400 units

This is because in a small country assumption model, the total imports made by any country is insignificant to the Total quantity of the products available in the market therefore it has no effect on the price of the products even if when the imports are stopped by the country  

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julia-pushkina [17]

Flesch Corporation produces and sells two products, in case if there is any shift in the sales from product Y45E to C90B, then the breakeven will also decrease, since the contribution margin for Product C90B is less than the Product Y45E.

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Product C90B:

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