Refer to the Accompanying Table for a Certain Product's Market
Question 243
Question 243
Multiple Choice
Quantity Demanded Domestically 1,4001,6001,8002,0002,2002,400 Price $1098765 Quantity Supplied Domestically 2,2002,0001,8001,6001,4001,200 Refer to the accompanying table for a certain product's market in Econland. If the world price for this product were $6, then Econland would import
A) 400 units and domestic producers would supply 1,400. B) 800 units and domestic producers would supply 1,400. C) 800 units and domestic producers would supply 2,200. D) 400 units and domestic producers would supply 2,200.
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