The table below shows the quantity demanded (in thousands) and quantity supplied
ID: 1207359 • Letter: T
Question
The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.
Table 20.5
U.S.
Canada
Price
Quantity Demanded
Quantity Supplied
Quantity Demanded
Quantity Supplied
$1,200
50
10
60
10
$1,400
45
30
50
20
$1,600
40
50
40
30
$1,800
35
70
30
40
$2,000
30
90
20
50
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Solution
According to Table 20.5, the international equilibrium price of computers is:
$1,800.
$2,000.
$1,600.
$1,400.
$1,200.
The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.
Table 20.5
U.S.
Canada
Price
Quantity Demanded
Quantity Supplied
Quantity Demanded
Quantity Supplied
$1,200
50
10
60
10
$1,400
45
30
50
20
$1,600
40
50
40
30
$1,800
35
70
30
40
$2,000
30
90
20
50
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Solution
Explanation / Answer
International Price is detemined by total international demand and supply
. At $1600, Total Demand = 40 + 40= 80
At $1600, Total Supply = 50 + 30= 80
c. $1,600.International Price is detemined by total international demand and supply
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