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The Diagram Below Shows Supply and Demand Curves for Bicycles

question 52

Multiple Choice

The diagram below shows supply and demand curves for bicycles in the domestic Canadian market.Assume that all bicycles are identical. 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 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.


Definitions:

Independent

Not influenced by or connected to others; in statistics, it often implies that variables are not correlated.

Independent

Not influenced or controlled by others; capable of thinking or acting for oneself.

Standard Deviations

A statistical measure indicating the dispersion or spread of a set of numbers from their mean; it shows how much variation there is from the average.

Independent

Not influenced by or subject to another, capable of thinking or acting for oneself.

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