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.
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.

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>. 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 the difference between the quantity demanded in the domestic market (Q₃) and the quantity supplied by domestic producers (Q₁), which is equal to Q₃ - Q₁.

The Following Figure Shows the Intersection of the Demand and Supply