MARKET FOR POTTERY IN MEXICO ● ● . Market for Pottery Price of Pottery $85 6. In the absence of trade with other countri

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Market For Pottery In Mexico Market For Pottery Price Of Pottery 85 6 In The Absence Of Trade With Other Countri 1 (66.67 KiB) Viewed 15 times

MARKET FOR POTTERY IN MEXICO ● ● . Market for Pottery Price of Pottery $85 6. In the absence of trade with other countries, the equilibrium price of pottery is. the equilibrium quantity of pottery is ● $65 $40 . $15 $5 20 40 millions of pottery units. 7. Assume Mexico enters a trade agreement and opens its market of pottery to the world, where the world price of pottery is $65. In the presence of trade with other countries, the domestic production of pottery is the domestic quantity demanded is. Mexico (exports or imports) 60 70 Domestic Supply Domestic demand Quantity of Pottery (millions) millions of pottery units. millions of pottery units. millions of pottery units. 8. Does Mexico have a comparative advantage or comparative disadvantage in the market for pottery? Explain how you arrived at your conclusion. 9. For the market for pottery, would an import tariff expand Mexican production? Explain how you came to your conclusion. 10. If a tariff on pottery expands Mexican production, who benefits from the tariff? If the tariff on pottery does not expand Mexican production, ignore this question.