Consider that the market for ethanol in Brazil is described by the following equations: Demand: P = 20-0.5Q Supply: P = 5+Q If the government of Brazil allows free trade and the world price is $10, then a. Brazil will import 5 barrels of ethanol per day. b. Brazil will export 10 barrels of ethanol per day. Oc. Brazil will export 15 barrels of ethanol per day. Brazil will import 15 barrels of ethanol per day. d.

Consider that the market for ethanol in Brazil is described by the following equations: Demand: P = 20-0.5Q Supply: P = 5+Q If the government of Brazil allows free trade and the world price is $10, then a. Brazil will import 5 barrels of ethanol per day. b. Brazil will export 10 barrels of ethanol per day. Oc. Brazil will export 15 barrels of ethanol per day. Brazil will import 15 barrels of ethanol per day. d.

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 8PA

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