The figure given below shows the import demand and export supply curves of corn of the U.S.and Mexico. Figure 34.2 According to Figure 34.2, the international equilibrium price of corn is:

Question

The figure given below shows the import demand and export supply curves of corn of the U.S.and Mexico. Figure 34.2  According to Figure 34.2, the international equilibrium price of corn is:

Quizplus · Accepted Answer

The international equilibrium occurs where the import demand curve and export supply curve intersect. In this figure, the intersection point is at a price of $6, which is the international equilibrium price of corn.

The Figure Given Below Shows the Import Demand and Export