(Scenario: Demand and Supply for Iron Ore) This table represents a demand and supply schedule for a small-country producer of iron ore. It sells output in its home market and on the world market at the world price of $70 per ton. Table: Demand and Supply for Iron Ore
At the world price of $70 per ton, how many tons will it export?
A) 80 tons
B) 70 tons
C) 40 tons
D) 30 tons
Correct Answer:
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