-The figure above shows the Australian demand and Australian supply curves for cherries. In the absence of international trade, how many kilograms of cherries would Australian farmers produce?

Question

Quizplus · Accepted Answer

In the absence of international trade, the quantity of cherries produced by Australian farmers would be determined by the equilibrium point where the Australian demand curve intersects the Australian supply curve. This equilibrium point represents the quantity at which the amount of cherries consumers want to buy equals the amount farmers want to sell, which is 400,000 kilograms.

-The Figure Above Shows the Australian Demand and Australian Supply