Chapter 9 Part III -- Showing Exports with a Supply and Demand Diagram

by Elson Blunt on Jul 12, 2014

We draw a supply and demand diagram for an exporting market (Philadelphia cheesesteaks), and note that when the world price is high compared to the domestic equilibrium price, the quantity supplied rises, the quantity demanded (locally) falls, and suppliers export the difference.

  • image/svg+xml
    Share

Permalink

Embed

Share On

Remind
Google Classroom