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Author Question: Refer to the diagram above, which represents a country's supply and demand for an internationally ... (Read 40 times)

HCHenry

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on: Jun 30, 2018
Refer to the diagram above, which represents a country's supply and demand for an internationally traded good. If PW is the world price, and a foreign country engages in dumping by selling at P2, total domestic production will ________ to ________.
 
  A) increase; Q2
  B) decrease; zero
  C) increase; Q5
  D) increase; Q3

Question 2

In autarky, when a community maximizes its standard of living, its consumption point is
 
  A) below the production possibility frontier.
  B) on the production possibility frontier.
  C) above the production possibility frontier.
  D) can't tell without more information.


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blazinlyss

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

B


HCHenry

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Reply 2 on: Jun 30, 2018
Excellent

emsimon14

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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