Multiple Choice
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.
Correct Answer:
Verified
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