Exhibit 34-7

-Refer to Exhibit 34-7. The world price of X is $15. Under a policy of free trade,U.S.consumers will import ___________ units of X from abroad.

Name: Exhibit 34-7 -Refer to Exhibit 34-7. The world price of X is $15. Under a policy of free trade,U.S.consumers will import ___________ units of X from abroad.
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Question

Exhibit 34-7
 
-Refer to Exhibit 34-7. The world price of X is $15. Under a policy of free trade,U.S.consumers will import ___________ units of X from abroad.

Quizplus · Accepted Answer

The correct answer is 50 units. Under free trade, U.S. consumers will import the difference between the quantity demanded and the quantity supplied at the world price of $15.

Exhibit 34-7 -Refer to Exhibit 34-7. the World Price of X Is