The Diagram Below Shows Supply and Demand Curves for Bicycles

question 32

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

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