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

question 64

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 $20 million, Canada will

• A)import 70 jets per year.
• B)import 90 jets per year.
• C)export 70 jets per year.
• D)import 40 jets per year.
• E)export 50 jets per year.

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