The Diagram Below Shows Supply and Demand Curves for Bicycles

question 53

Multiple Choice

The diagram below shows supply and demand curves for bicycles in the domestic Canadian market.Assume that all bicycles are identical. FIGURE 33-4 Refer to Figure 33-4.Assume there is free trade in bicycles.If the world price of bicycles is $500,Canada will ________ bicycles per year.

• A)import 30 000
• B)import 20 000
• C)export 30 000
• D)export 20 000
• E)export 50 000

---

Definitions:

Neutralize

To make something ineffective by applying an opposite force or effect, often used in the context of reducing or eliminating threats or negative impacts.

Rejections and Refusals

The act of not accepting, approving, or agreeing to something, often communicated formally or in writing.

Organization's Culture

The shared values, beliefs, customs, and practices that influence the behavior and actions of members within an organization.

Layoffs

The action of dismissing employees, typically as a cost-saving measure or due to economic downturns, restructuring, or changes in business strategy.