Table 7.2.1

-The table shows a country's demand and supply schedules.Based on Table 7.2.1,at what world price would the country import?

Name: Table 7.2.1 -The table shows a country's demand and supply schedules.Based on Table 7.2.1,at what world price would the country import?
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Question

Table 7.2.1
 
-The table shows a country's demand and supply schedules.Based on Table 7.2.1,at what world price would the country import?

Quizplus · Accepted Answer

A country will import goods when the world price is below the domestic equilibrium price, as it can purchase the goods more cheaply from abroad than producing them domestically.

Table 7.2.1 -The Table Shows a Country's Demand and Supply Schedules.Based on and Supply