Multiple Choice
The accompanying table gives data for Country X. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Qd) , and Column 3 is the quantity supplied domestically (Qₛd) . If the world price is $5.00, there will be
A) a domestic surplus of 100 units that will be exported.
B) a domestic shortage of 100 units that will be imported.
C) a domestic surplus of 200 units that will be exported.
D) neither a domestic surplus nor a shortage.
Correct Answer:
Verified
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