The Diagram Below Shows Supply and Demand Curves for Bicycles

question 33

Multiple Choice

The diagram below shows supply and demand curves for bicycles in the domestic Canadian market.Assume that all bicycles are identical.
FIGURE 34- 4
-An agreement among a group of countries to eliminate trade barriers among themselves,to present a common trading front to the rest of the world in terms of common barriers to trade,and to permit free movement of factors of production among member countries is called a

• A)common market.
• B)reciprocity association.
• C)customs union.
• D)confederation.
• E)free- trade area.

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