Answered

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In the absence of international trade in MP3 players, what will be the price of MP3 players in the United States

Sagot :

Answer:

$60

Explanation:

here is the complete question

Suppose the domestic supply(Qs) and demand(Qd) for MP3 players in the UNited States are given by the following set of equations.

Qs= -25 + 10p

Qd= 875 -5p

In the absence of international trade in MP3 players, what will be the price of MP3 players in the United States

In the absence of international trade, it is assumed that quantity demanded equals quantity supplied

Qs = Qd

-25 + 10p = 875 - 5p

combine like terms

+10p + 5p = 875 + 25

15p = 900

p = 900 / 15

p = $60

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