The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.
Figure 20.4
-According to Figure 20.4, the no-trade equilibrium price and quantity of cocoa in the U.S. market are:
A) $8 and 150 pounds.
B) $10 and 250 pounds.
C) $4 and 200 pounds.
D) $10 and 200 pounds.
E) $6 and 300 pounds.
Correct Answer:
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