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Refer to the figure below to answer the following questions. Figure 7.1.1
The figure shows the market for shirts in Canada,where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt.
-In Figure 7.1.1,with international trade,Canadians buy ________ million shirts per year.
Winning Bid
refers to the highest offer made in an auction that is accepted by the seller, resulting in a sale.
Bidders Values
The subjective valuation individual bidders place on the item or service being auctioned.
Low-Value
Referring to items or activities that offer minimal benefits or importance.
Expected Value
The weighted average of all possible outcomes of a random variable, considering their probabilities.
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