The Diagram Below Shows Supply and Demand Curves for Bicycles

question 109

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 $200,domestic consumption is ________ and domestic production is ________.

• A)20 000; 60 000
• B)30 000; 50 000
• C)40 000; 40 000
• D)50 000; 30 000
• E)60 000; 20 000

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The process by which individuals control their behavior, emotions, and thoughts towards achieving long-term goals.

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