The figure given below shows the import demand and export supply curves of corn of the U.S.and Mexico. Figure 20.2 According to Figure 20.2, 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 20.2  According to Figure 20.2, the international equilibrium price of corn is:

Quizplus · Accepted Answer

The international equilibrium price is determined at the intersection of the import demand and export supply curves. From the figure, we can see that the intersection point is at a price of $6. Therefore, C is the correct choice.

The Figure Given Below Shows the Import Demand and Export