Multiple Choice
Exhibit 19-3
-In Exhibit 19-3, if the world price of tulips is $4 and there are no trade restrictions, The Netherlands will
A) produce 10,000, consume 4,000, and import 6,000 tulips
B) produce 10,000, consume 4,000, and export 6,000 tulips
C) produce 4,000, consume 10,000, and import 6,000 tulips
D) produce no tulips
E) import all of the tulips that it consumes
Correct Answer:
Verified
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