Reference: Ref 9-6 (Figure: World Imports) Refer to the Figure

question 16

Multiple Choice

Reference: Ref 9-6 (Figure: World Imports) Refer to the figure. The solution for a country without trade restrictions is where the equilibrium price and quantity are ________, respectively.

• A) $20 and 4
• B) $40 and 11
• C) $20 and 11
• D) $20 and 20

---

Definitions:

Labor Relations

The study and practice of managing relationships between employers and their workforce, particularly in unionized contexts.

European Nations

The sovereign states located on the European continent, each with its distinct government, culture, and legal system.

Strategic Alliance

A formal agreement between two or more entities to pursue a set of agreed-upon objectives while remaining independent organizations, often used in the business world to leverage complementary strengths.

International Business Approaches

Strategies employed by companies to enter and compete in foreign markets.