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AEM-ECON%202300%20Lecture%206%20Spring%202011

AEM-ECON%202300%20Lecture%206%20Spring%202011 - Lecture 6...

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1 Lecture 6 Professor David Lee AEM/ ECON 2300 International Trade Equilibrium S B D B Q A Q T Q B P P P S A D A Exporting country International market Importing country P A ES A ES = excess supply = S - D ED B P B Q A 1 Q A 2 Q B 1 Q B 2 P* Q* At (P*, Q*): Q* = Q A 2 Q A 1 = Q B 2 Q B 1
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