-Refer to the Diagram Above

question 149

Multiple Choice

-Refer to the diagram above.If the price in this market is initially $7.00 and the most dissatisfied supplier sells a unit of the good for $5.50 to the most eager buyer,by how much is the supplier better off?

• A) $1.50.
• B) $2.50.
• C) $4.00.
• D) $5.50.
• E) $7.00.

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Definitions:

Savings Deposits

Accounts in financial institutions that allow individuals to deposit money and earn interest over time.

Import Substitution

An industrial trade strategy that favors developing local industries that can manufacture goods to replace imports.

Export Promotion

A trade policy designed to encourage exports.

Industrial Production

The total output of a country's manufacturing, mining, and utility sectors.