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Consider the small Home country with many perfectly competitive firms that produce oil The demand cu

Consider the small Home country with many perfectly competitive firms that produce oil

The demand curve for oil is given by P = 400 – 2Q, and the Home supply curve is given by P=Q

 

(b) Assume that the Home government imposes the import quota of 50, ? How much oil is produced at Home? How much oil is consumed

 

 

Apr 24 2020 View more View Less

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