SCENARIO: DEMAND AND SUPPLY FOR IRON ORE

question 83

Multiple Choice

SCENARIO: DEMAND AND SUPPLY FOR IRON ORE
The table supplied represents a demand and supply
Schedule for a small­country producer of iron ore.It sells
Output in its home market and on the world market at the
World price of $70 per ton.
(Scenario: Demand and Supply for Iron Ore) How many
Tons will be sold domestically when exporters receive a
$10­per­ton export subsidy?

• A)10 tons
• B)20 tons
• C)30 tons
• D)40 tons

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Definitions:

MAOIs

A class of antidepressant drugs that work by inhibiting the breakdown of monoamine neurotransmitters, improving mood and emotional stability.

Dietary Restrictions

Guidelines or limits on what an individual can consume to meet personal, health, or religious requirements, often to improve health outcomes or adhere to beliefs.

Selective Serotonin Reuptake Inhibitor

A class of drugs used in the treatment of depression and anxiety disorders that works by increasing serotonin levels in the brain.

Prozac

A brand name for the drug fluoxetine, which is a selective serotonin reuptake inhibitor used to treat depression and other mental health conditions.