Multiple Choice
-The above figure shows the U.S. market for 1 carat diamonds. With free trade, Americans buy ________ diamonds and pay a price of ________ per diamond.
A) 300,000; $4,000
B) 500,000; $4,000
C) 900,000; $2,000
D) 700,000; $3,000
E) 300,000; $3,000
Correct Answer:
Verified
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