Refer to the table below to answer the following questions.
Table 15.1.2
-Refer to Table 15.1.2.The table shows a country's demand and supply schedules.Suppose the world price is $4 a unit.The country

Question

Refer to the table below to answer the following questions.
Table 15.1.2 
-Refer to Table 15.1.2.The table shows a country's demand and supply schedules.Suppose the world price is $4 a unit.The country

Quizplus · Accepted Answer

At a world price of $4 a unit, the domestic price would be higher than the world price, leading to a surplus of 30 units. Therefore, the country would need to import 20 units to reach equilibrium.

Refer to the Table Below to Answer the Following Questions