Business, 25.06.2019 10:50 calebabaltimore

2) consider supply and demand for maine lobsters indicated in the following tables to answer questions from a–e below. suppose that the supply schedule of maine lobsters is as follows: price of lobster per pound maine quantity of lobster supplied (pounds) $25 800 $20 700 $15 600 $10 500 $5 400 first, assume that maine lobsters can be sold only in the united states. the u. s. demand schedule for maine lobsters is as follows: price of lobster per pound usa quantity of lobster demanded (pounds) $25 200 $20 400 $15 600 $10 800 $5 1,000 a. looking at both the schedules of supply and demand, as well as the graph of the demand and supply curve for maine lobsters, what is the equilibrium price of lobsters and the equilibrium quantity of lobsters demanded and supplied at that price? the equilibrium price of maine lobsters is $15 per pound, and the equilibrium quantity is 600. b. second, suppose that maine lobsters can also be sold in france. the french demand schedule for maine lobsters is as follows: price of lobster per pound quantity of lobster demanded (pounds) $25 100 $20 300 $15 500 $10 700 $5 900 c. what is the demand schedule for maine lobsters now that french consumers can also buy them? d. using the combined u. s. and french demand schedule, the u. s. demand schedule and the supply schedule, and the graph below, analyze the change in the market for lobsters. what will happen to the price at which fishermen can sell lobster? what will be the final output of lobsters?

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2) consider supply and demand for maine lobsters indicated in the following tables to answer questio...

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