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hi i need help w 2 b amp c 3...

Question: hi i need help w 2 b amp c 3...

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Hi, I need help w 2 b & c, 3 and 4. Please help, thanks!

Quiz 2-3 Review View No Spacing Headng 1 Part I: Answer the short answer question in a clear, conclse, yet comprehensive manner. Graphs aned calculations are mandatory whenever appropriate. The domestic demand and supply conditions for writing paper in Belgium are given as follows: Demand: P- 700-20 Supply: P- 40 +(Qs/5) 1) What are the equilibrium price and quantity in autarky? 2) If the nation can trade freely with the rest of the world (ROW) at a price of $120, Does Belgium or ROW have comparative advantage? b. a. What are the domestic production and domestic consumption respectively? Would Belgium import or export and what is the amount? For Belgium, moving from autarky to free trade, what are the effects of trade on the economic well- being of consumers, producers, and the nation? Please quantify your answers. Create a graph and refer to your graph in your answer. Suppose the autarky price for ROW is $150. Graphically show the international market: world price, the amount of imports and exports, the gains for Belgium and ROW. In addition, who gains more? c. 3) 4)

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