Use the following table for Country X to answer the question below. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Q_dd) and Column 3 is the quantity supplied domestically (Q_sd). Refer to the table above. At what price will Country X import 100 units of the product?

Question

Quizplus · Accepted Answer

At a price of $2.00, the quantity demanded domestically (150) is less than the quantity supplied domestically (250). Therefore, Country X will need to import 100 units to meet the demand, making the answer choice C.

Use the Following Table for Country X to Answer the Question