The following figure shows the demand curve, D, and the supply curve, S, for calculators in Barylia. The world price of calculators is $40.
-Refer to the figure above.What is the domestic production of calculators in Barylia once the economy opens up to free trade?
Definitions:
Market Revolution
The dramatic increase in exchange of goods and services in the 19th century U.S., facilitated by advancements in transportation, commercialization, and industrialization.
Economic Opportunities
Prospects for participation in economic activities that can lead to employment and financial success.
Cult of Domesticity
A 19th-century ideology in the United States and Britain that glorified women's roles in home-making and child-rearing, emphasizing piety, purity, domesticity, and submissiveness.
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