The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set. In the absence of trade, how many TV sets will Guatemala produce?
A) 1,400
B) 1,200
C) 1,000
D) 800

Question

The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set.  In the absence of trade, how many TV sets will Guatemala produce?
A) 1,400 
B) 1,200 
C) 1,000 
D) 800

Quizplus · Accepted Answer

The Answer of The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set.  In the absence of trade, how many TV sets will Guatemala produce?
A) 1,400 
B) 1,200 
C) 1,000 
D) 800

The Following Table Gives the Hypothetical Supply and Demand of Television