$\begin{array}{l}
\text { Domestic Market For Steel, Alpha }\
\begin{array}{|c|c|c|}
\hline Q_{S} & P & Q_{d} \
\hline 60 & \$ 5 & 10 \
\hline 40 & 4 & 20 \
\hline 30 & 3 & 30 \
\hline 20 & 2 & 40 \
\hline 10 & 1 & 50 \
\hline
\end{array}
\end{array}$

$\begin{array}{l}
\text { Domestic Market For Steel, Beta }\
\begin{array}{|c|c|c|}
\hline Q_{S} & P & Q_{d} \
\hline 80 & \$ 5 & 20 \
\hline 70 & 4 & 30 \
\hline 60 & 3 & 40 \
\hline 50 & 2 & 50 \
\hline 40 & 1 & 60 \
\hline
\end{array}
\end{array}$

The accompanying tables show data for the hypothetical nations of Alpha and Beta. $ Q_{S} $ is domestic quantity supplied, and $ Q_{d} $ is domestic quantity demanded. Assuming that Alpha and Beta are the only two nations in the world, the equilibrium world price must be lower than $ \$ 4 $ because, at $ \$ 4 $,

Question

$\begin{array}{l}
\text { Domestic Market For Steel, Alpha }\
\begin{array}{|c|c|c|}
\hline Q_{S} & P & Q_{d} \
\hline 60 & \$ 5 & 10 \
\hline 40 & 4 & 20 \
\hline 30 & 3 & 30 \
\hline 20 & 2 & 40 \
\hline 10 & 1 & 50 \
\hline
\end{array}
\end{array}$

$\begin{array}{l}
\text { Domestic Market For Steel, Beta }\
\begin{array}{|c|c|c|}
\hline Q_{S} & P & Q_{d} \
\hline 80 & \$ 5 & 20 \
\hline 70 & 4 & 30 \
\hline 60 & 3 & 40 \
\hline 50 & 2 & 50 \
\hline 40 & 1 & 60 \
\hline
\end{array}
\end{array}$

The accompanying tables show data for the hypothetical nations of Alpha and Beta. $ Q_{S} $ is domestic quantity supplied, and $ Q_{d} $ is domestic quantity demanded. Assuming that Alpha and Beta are the only two nations in the world, the equilibrium world price must be lower than $ \$ 4 $ because, at $ \$ 4 $,

Quizplus · Accepted Answer

The presence of "TB" in the code indicates that the product in question is steel. The "00" at the end suggests that this is a general code, rather than a specific one for a particular grade of steel. The code itself does not provide any indication of which country wants to import or export more. However, the fact that both countries have a code for this product suggests that they both have an interest in trading steel with each other. Therefore, both nations want to import and export steel, making option D the best choice.

The Accompanying Tables Show Data for the Hypothetical Nations of P