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Refer to Figure 35

question 92

Multiple Choice

  Refer to Figure 35.5. If S<sub>1</sub> represents the U.S. domestic supply of a good and S<sub>2</sub> represents supply in the United States under conditions of free trade, what does S<sub>3</sub> most likely represent? A)  U.S. supply under tariff-restricted trade. B)  U.S. supply under quota-restricted trade. C)  The result of a foreign country dumping this good on the U.S. market. D)  Production possibilities under conditions of free trade. Refer to Figure 35.5. If S1 represents the U.S. domestic supply of a good and S2 represents supply in the United States under conditions of free trade, what does S3 most likely represent?


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