The Diagram Below Shows the (Hypothetical)demand and Supply Curves for Regional

question 31

Multiple Choice

The diagram below shows the (hypothetical) demand and supply curves for regional jets in Canada. Assume that the market is competitive, all jets are identical, and that Canada engages in international trade.
FIGURE 33- 6
-Refer to Figure 33- 6. If the world price of a regional jet is $30 million, Canada will

• A)import 70 jets per year.
• B)export 50 jets per year.
• C)neither import nor export any jets.
• D)import 90 jets per year.
• E)export 70 jets per year.

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Definitions:

Oval Window

A membrane-covered opening located at the base of the stapes bone in the middle ear that transmits sound vibrations to the cochlea.

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Texture Gradient

A depth cue based on the gradual reduction of detail that occurs in surfaces as they recede from the observer, suggesting distance.

Size Constancy

A perceptual phenomenon in which the perceived size of an object remains constant, despite changes in the distance or size of the retinal image.