Suppose the Following Demand and Supply Schedule for Canada's Tire

question 43

Essay

Suppose the following demand and supply schedule for Canada's tire industry: $\begin{array} { c c c } \hline \begin{array} { c } \text { Price } \\( \$ )\end{array} & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\hline 55 & 75 & 69 \\56 & 74 & 70 \\57 & 73 & 71 \\58 & 72 & 72 \\59 & 71 & 73 \\60 & 70 & 74 \\61 & 69 & 75 \\\hline\end{array}$ a) In the absence of free trade, what is the equilibrium price and quantity traded for Canada's tire industry?
Suppose the international price for a computer is $60.
b) Will Canadian consumers benefit? Explain.
c) Will Canadian producers benefit? Explain

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