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The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, how many microwaves will be imported or exported?
Hierarchical
Describes a system or organization in which people or groups are ranked one above the other according to status or authority.
Labor Force
The total number of people who are eligible to work and are either employed or actively seeking employment.
Part-Time Workers
Individuals employed in positions that require less than the standard full-time hours, often offering flexibility but limited benefits.
Hours a Week
A measure of time spent on activities or work calculated on a weekly basis.
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