What will be the quantity consumed by European consumers?

(per Show more Suppose that the supply schedule of Belgium Cocoa beans is as follows: Price of cocoa beans (per pound) Quantity of cocoa beans supplied (pounds) $40 900 $35 700 $30 500 $25 400 $20 200 Suppose that Belgium cocoa beans can be sold only in Europe. The European demand schedule for Belgium cocoa beans is as follows: Price of Belgium cocoa beans (per pound) European Quantity of Belgium cocoa beans demanded (pounds) $40 100 $35 300 $30 500 $25 700 $20 900 Below is the graph of the demand curve and the supply curve for Belgium cocoa beans. From the supply and demand schedules above what are the equilibrium price and quantity of cocoa beans from Belgium? Now suppose that Belgium cocoa beans can be sold in the U.S. The U.S. demand schedule for Belgium cocoa beans is as follows: Price of Belgium cocoa beans (per pound) U.S. Quantity of Belgium cocoa beans demanded (pounds) $40 200 $35 400 $30 600 $25 800 $20 1000 What is the combined (total) demand schedule for Belgian cocoa beans that European and USA consumers buy? Price of Belgium cocoa beans U.S. Quantity of Belgium cocoa beans demanded European Quantity of Belgium cocoa beans demanded Total Demanded (per pound) (pounds) (pounds) (pounds) $40 200 100 $35 400 300 $30 600 500 $25 800 700 $20 1000 900 Below is the supply and demand graph that illustrates the new equilibrium price and quantity of cocoa beans from Belgium. From the supply schedule and the combined U.S. and European demand schedule what will be the new price at which Belgium plantation owners can sell cocoa beans? What price will be paid by European consumers? What will be the quantity consumed by European consumers? Show less

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