Exhibit 19.3

-Refer to Exhibit 19.3,which shows the supply of a product in the United States.If the world price is P,importers would supply ____

Question

Exhibit 19.3
 
-Refer to Exhibit 19.3,which shows the supply of a product in the United States.If the world price is P,importers would supply ____

Quizplus · Accepted Answer

At the world price (P), importers would be willing to supply Q' units of the product. This is because Q' represents the quantity supplied by domestic producers plus imports. As the world price is higher than the domestic price, domestic producers would increase their supply to Q'. Importers would also supply Q' because they can import the product at the world price and sell it at the higher domestic price. Therefore, the best choice is B.

Exhibit 19.3 -Refer to Exhibit 19.3,which Shows the Supply of a Product