The figure given below shows the import demand and export supply curves of corn in the U.S. and Mexico.Figure 20.2

-Refer to Figure 20.2. The no-trade equilibrium price of a bushel of corn in Mexico is:

Question

The figure given below shows the import demand and export supply curves of corn in the U.S. and Mexico.Figure 20.2
 
-Refer to Figure 20.2. The no-trade equilibrium price of a bushel of corn in Mexico is:

Quizplus · Accepted Answer

The no-trade equilibrium price is where the domestic supply and demand curves intersect, which in this case is at $4.

The Figure Given Below Shows the Import Demand and Export