Problem
Suppose the demand curve intercepts the price axis at P=$200. The supply curve intercepts the vertical axis at P=$50.
If there is no international trade, the equilibrium price is $95 and the equilibrium quantity is 84.
A demand curve of Qd=160 - 0.8*P would be consistent with this data. If the world price is $70, what will domestic quantity demanded be once this country participates in international trade?