Diagram the level of domestic consumption


In nation 1, the domestic demand for good Y is Dd = 80-10P and the domestic supply for good Y is Sd = 10P. Suppose that the free trade (world) price of good Y is PY = $1. Draw the domestic demand and supply curves for good Y. Calculate and indicate in the diagram the level of domestic consumption, domestic production and imports of commodity Y at free trade price.

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Macroeconomics: Diagram the level of domestic consumption
Reference No:- TGS065102

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