Use the Following to Answer Question

question 72

Multiple Choice

Use the following to answer question:
-(Figure: The Domestic Supply and Demand for SUVs in the United States) Use Figure: The Domestic Supply and Demand for SUVs in the United States.Suppose the world price equals $50,000 and there is free trade.The United States would _____ SUVs.

• A)import 6 million
• B)export 6 million
• C)export 2 million
• D)import 2 million

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Definitions:

Marketing Mix

The mix of variables a company can manage to encourage customers to buy its goods, typically known as product, price, distribution, and marketing.

New-Product Protocol

A formal guideline or set of rules that outlines the process for developing and launching new products.

Target Market

A specific group of potential consumers at whom a company aims its products or services.

Federal Trade Commission (FTC)

A U.S. federal agency responsible for protecting consumers and ensuring a strong competitive market by enforcing antitrust and consumer protection laws.