Table 7.2.1

-Table 7.2.1 shows a country's demand and supply schedules. Based on Table 7.2.1, at what world price would the country import?
A)at exactly $8 a unit
B)any price above $8 a unit
C)a price of $10 a unit
D)a price of $20 a unit
E)a price below $8 a unit

Question

Table 7.2.1
 
-Table 7.2.1 shows a country's demand and supply schedules. Based on Table 7.2.1, at what world price would the country import?
A)at exactly $8 a unit 
B)any price above $8 a unit 
C)a price of $10 a unit 
D)a price of $20 a unit 
E)a price below $8 a unit

Quizplus · Accepted Answer

A country will import goods when the world price is below the domestic equilibrium price, which is $8 in this case.

Table 7.2.1 -Table 7.2.1 Shows a Country's Demand and Supply Schedules. Based