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This Graph Demonstrates the Domestic Demand and Supply for a Good,as

Question 52

Multiple Choice

This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good. This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good. According to the graph shown,if this economy were to open to trade,domestic producers would have to cut: A) production by 55 units. B) production by 90 units. C) prices by $3. D) prices by $7. According to the graph shown,if this economy were to open to trade,domestic producers would have to cut:


A) production by 55 units.
B) production by 90 units.
C) prices by $3.
D) prices by $7.

Correct Answer:

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