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The Graph Shown Demonstrates the Domestic Demand and Supply for a Good

Question 73

Multiple Choice

The graph shown demonstrates the domestic demand and supply for a good, as well as the world price for that good. The graph shown demonstrates the domestic demand and supply for a good, as well as the world price for that good.  If this economy decides to open to trade, the domestic price will: A) be $16 for domestically produced units and $23 for imported units. B) be $23 for all units. C) be $16, with more units sold overall. D) be $11 for all units. If this economy decides to open to trade, the domestic price will:


A) be $16 for domestically produced units and $23 for imported units.
B) be $23 for all units.
C) be $16, with more units sold overall.
D) be $11 for all units.

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