The table below represents the demand and supply schedules for cement in Canada and United States. (Assume these are only 2 countries trading in cement).
economics
Description
(
Correct your answers to 2 decimal places)
(A)
Calculate the equilibrium level of output (5 marks)
(B) Calculate Net
exports, and total consumption. (3marks)
(C) Calculate total consumption (3
marks)
(D) State whether the economy has a budget
surplus/deficit. Find its value.
(3 marks)
55. (Total = 6 marks)
The table below represents the demand and supply schedules for cement
in Canada and
United States. (Assume
these are only 2 countries trading in cement).
