Table 7.2.1

-The table shows a country's demand and supply schedules.Based on Table 7.2.1,suppose the world price is $4 a unit.The country

Name: Table 7.2.1 -The table shows a country's demand and supply schedules.Based on Table 7.2.1,suppose the world price is $4 a unit.The country
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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,suppose the world price is $4 a unit.The country

Quizplus · Accepted Answer

At a world price of $4, the quantity demanded exceeds the quantity supplied by 20 units, indicating that the country imports 20 units to meet the excess demand.

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