Author Question: Based on the table below, at what world price would the country import the good? Price Q Demanded ... (Read 87 times)

asan beg · **on:** Jun 29, 2018

Based on the table below, at what world price would the country import the good?

Price Q Demanded Q Supplied
2 100 70
4 95 75
6 90 80
8 85 85
10 80 90
12 75 95

A) a price below 8
B) at exactly 8
C) a price above 8
D) It is impossible to say.

Question 2

An increase in the number of consumers

A) results only in a movement along the demand curve.
B) shifts the supply curve leftward.
C) shifts the demand curve rightward.
D) Both answers B and C are correct.