Exhibit 34-3

-Refer to Exhibit 34-3.The world price is P_W.At this price,Americans purchase Q₁ from U.S.producers and import the quantity __________ from foreign producers.

Question

Exhibit 34-3 -Refer to Exhibit 34-3.The world price is P_W.At this price,Americans purchase Q₁ from U.S.producers and import the quantity __________ from foreign producers.

Quizplus · Accepted Answer

At the world price of PS1U1B1WS1U1B0, American demand is QS1U1B12S1U1B0. They purchase QS1U1B11S1U1B0 from domestic producers and import the remaining QS1U1B12S1U1B0 - QS1U1B11S1U1B0 = QS1U1B1 from foreign producers. Therefore, the correct choice is B.

Exhibit 34-3 -Refer to Exhibit 34-3.The World Price Is PW.At This Price,Americans

Exhibit 34-3 -Refer to Exhibit 34-3.The World Price Is P_W.At This Price,Americans