The following figure shows the intersection of the demand and supply curves for a commodity in the domestic market at price P₂ and quantity Q₂,in the absence of trade.With trade,the supply curve shifts to Supply_trade.
Figure 10-4
-Refer to Figure 10-4.The quantity of imports into the domestic market is given by _____.

Question

The following figure shows the intersection of the demand and supply curves for a commodity in the domestic market at price P₂ and quantity Q₂,in the absence of trade.With trade,the supply curve shifts to Supply_trade.
Figure 10-4

The following figure shows the intersection of the demand and supply curves for a commodity in the domestic market at price P<sub>2</sub> and quantity Q<sub>2</sub>,in the absence of trade.With trade,the supply curve shifts to Supply<sub>trade</sub>. Figure 10-4 -Refer to Figure 10-4.The quantity of imports into the domestic market is given by _____. A) Q<sub>2</sub> - Q<sub>1</sub> B) Q<sub>3</sub> - Q<sub>2</sub> C) Q<sub>3</sub> - Q<sub>1</sub> D) Q<sub>3</sub>

-Refer to Figure 10-4.The quantity of imports into the domestic market is given by _____.

Quizplus · Accepted Answer

The quantity of imports is equal to the difference between the quantity supplied at the new supply curve (_trade) and the original quantity supplied (Q₂), which is Q₃ - Q₁. Therefore, the correct answer is C.

The Following Figure Shows the Intersection of the Demand and Supply