The model represents the market for sugar in a small nation.Assume S 1 represents the U.S.domestic supply of sugar and S 2 represents the supply in the U.S.under conditions of free trade
-In Figure 17.2,in the absence of trade,the domestic price and sales of sugar will be determined by the intersection of D and:

Question

The model represents the market for sugar in a small nation.Assume S 1 represents the U.S.domestic supply of sugar and S 2 represents the supply in the U.S.under conditions of free trade 
-In Figure 17.2,in the absence of trade,the domestic price and sales of sugar will be determined by the intersection of D and:

Quizplus · Accepted Answer

In the absence of trade, the domestic price and sales of sugar will be determined by the intersection of the domestic demand curve (D) and the domestic supply curve (S₁).

The Model Represents the Market for Sugar in a Small