Suppose Russia produces caviar and sells it for $15 a can and the United States produces it at a price of $20 per can.If all caviar were the same and there are no barriers to trade,then:
A) consumers would buy up all the U.S.-made caviar.
B) Russians would see the price of their caviar drop due to U.S.competition.
C) the equilibrium price of caviar would be between $15 and $20.
D) Americans would see the price of caviar rise.
Correct Answer:
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