(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 What price will domestic iron ore consumers pay for their iron ore purchases when there is a $10-per-ton export subsidy?
A) $10 per ton
B) $60 per ton
C) $70 per ton
D) $80 per ton

Question

(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  What price will domestic iron ore consumers pay for their iron ore purchases when there is a $10-per-ton export subsidy?
A) $10 per ton 
B) $60 per ton 
C) $70 per ton 
D) $80 per ton

Quizplus · Accepted Answer

The Answer of (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  What price will domestic iron ore consumers pay for their iron ore purchases when there is a $10-per-ton export subsidy?
A) $10 per ton 
B) $60 per ton 
C) $70 per ton 
D) $80 per ton

(Scenario: Demand and Supply for Iron Ore) This Table Represents