Refer to the figure below to answer the following questions. Figure 7.1.1
The figure shows the market for shirts in Canada,where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt.
-In Figure 7.1.1,with international trade,Canadians buy ________ million shirts per year.
A)48
B)32
C)16
D)24
E)56

Question

Refer to the figure below to answer the following questions.  Figure 7.1.1
The figure shows the market for shirts in Canada,where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt.
-In Figure 7.1.1,with international trade,Canadians buy ________ million shirts per year.
A)48 
B)32 
C)16 
D)24 
E)56

Quizplus · Accepted Answer

With international trade, Canadians would buy the quantity that is available on the international market at the given world price. This typically results in an increase in consumption from the pre-trade level due to lower prices or better availability on the international market. Without seeing Figure 7.1.1, the specific answer relies on the assumption that choice A (48 million shirts per year) is correct based on typical outcomes of international trade, such as increased consumption due to access to goods at potentially lower prices or higher availability.

Refer to the Figure Below to Answer the Following Questions