The Following Graph Shows the Domestic Supply and Demand Curves

question 16

Multiple Choice

The following graph shows the domestic supply and demand curves for a good. S1 and S2 represent the domestic industry supply before and after the provision of a subsidy by the government respectively, while D represents the domestic demand for the product. Prior to the subsidy, the country was importing 300 units of the good. Refer to the graph to answer the question. At the world price, the domestic demand is:

• A) 100 units.
• B) 240 units.
• C) 300 units.
• D) 400 units.

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Definitions:

Closing Date

The scheduled date on which the final legal transfer of property ownership from the seller to the buyer occurs.

Correct Verb

A correct verb is a verb that is appropriate in terms of its form and tense, accurately aligning with the subject and the context of the sentence.

Correct Verb

Using the appropriate form of a verb in a sentence to match the subject and convey the intended time or action.

Extra Hours

Additional time spent working beyond the standard or expected working schedule.