Multiple Choice
Exhibit 19-10
In Exhibit 19-10 the domestic demand for sugar is represented by D and the domestic supply is represented by S, if the world price of sugar is $.13 per pound and there are no trade restrictions, the United States will
A) produce 10 million lbs., consume 27 million lbs., and import 17 million lbs.of sugar
B) have an excess demand for sugar
C) produce 13 million lbs., consume 25 million lbs., and import 12 million lbs.of sugar
D) not produce any sugar
E) consume only a portion of what is produced
Correct Answer:
Verified
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