question archive As a World Bank economist, you are given the following information about demand and supply conditions for product X in countries A and B
As a World Bank economist, you are given the following information about demand and supply conditions for product X in countries A and B
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As a World Bank economist, you are given the following information about demand and supply conditions for product X in countries A and B.
| Demand for X in Country A | QAD=70−2P |
| Supply of X in Country A | QAS=10+2P |
| Demand for X in Country B | QBD=70−2P |
| Supply of X in Country B | QBS=4+2P |
a. Which country has a comparative or absolute advantage in producing X?
b. What are the equilibrium price and quantity in country A under autarky?
c. What are the equilibrium price and quantity in country B under autarky?
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