Solved

 Domestic Market For Steel, Alpha { \text { Domestic Market For Steel, Alpha } }

Question 72

Multiple Choice

 Domestic Market For Steel, Alpha { \text { Domestic Market For Steel, Alpha } }
QSPQd60$51040420303302024010150 Domestic Market For Steel, Beta QSPQd80$52070430603405025040160\begin{array}{l}\begin{array} { | c | c | c | } \hline Q _ { S } & P & Q _ { d } \\\hline 60 & \$ 5 & 10 \\\hline 40 & 4 & 20 \\\hline 30 & 3 & 30 \\\hline 20 & 2 & 40 \\\hline 10 & 1 & 50 \\\hline\end{array}\\\\\\{ \text { Domestic Market For Steel, Beta } } \\\begin{array} { | c | c | c | } \hline Q _ { S } & P & Q _ { d } \\\hline 80 & \$ 5 & 20 \\\hline 70 & 4 & 30 \\\hline 60 & 3 & 40 \\\hline 50 & 2 & 50 \\\hline 40 & 1 & 60 \\\hline\end{array}\end{array} The accompanying tables show data for the hypothetical nations of Alpha and Beta. QSQ _ { S } is domestic
Quantity supplied, and
QdQ _ { d } is domestic quantity demanded. The domestic equilibrium prices of steel
In Alpha and Beta are


A) $5 and $4, respectively.
B) $2 and $4, respectively.
C) $3 and $2, respectively.
D) $1 and $2, respectively.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents