Suppose the World Price of a Good Is $4 A) Import 10 Units
B) Import 20 Units
C) Export

question 68

Multiple Choice

Suppose the world price of a good is $4. Based on the table below, the country willould
$$\begin{array} { | l | l | l | } \hline \text { Price } & \text { QD emanded } & \text { QSupplied } \\\hline 2 & 100 & 70 \\\hline 4 & 95 & 75 \\\hline 6 & 90 & 80 \\\hline 8 & 85 & 85 \\\hline 10 & 80 & 90 \\\hline 12 & 75 & 95 \\\hline\end{array}$$

• A) import 10 units
• B) import 20 units
• C) export 20 units
• D) export 10 units

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Definitions:

Marginal

Refers to the change or difference in an economic variable when altering another variable by a small or marginal amount.

Welfare Dependency

A situation where individuals or families continually rely on government welfare programs for their income over long periods, rather than seeking employment.

Billionaires

Individuals whose net worth or wealth is equal to or exceeds one billion units of a currency.

Income

The financial earnings received by an individual or entity, typically measured over a set period of time, from work (wages) or investments (interests, dividends).