Refer to the Accompanying Table for a Certain Product's Market

question 211

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Quantity Demanded } \\\text { Domestically }\end{array} & \text { Price } & \begin{array} { c } \text { Quantity Supplied } \\\text { Domestically }\end{array} \\\hline 1,400 & \$ 10 & 2,200 \\\hline 1,600 & 9 & 2,000 \\\hline 1,800 & 8 & 1,800 \\\hline 2,000 & 7 & 1,600 \\\hline 2,200 & 6 & 1,400 \\\hline 2,400 & 5 & 1,200 \\\hline\end{array}$$ Refer to the accompanying table for a certain product's market in Econland. If Econland was entirely closed to international trade, the equilibrium price and quantity would be

• A) $9 and 2,000 units.
• B) $8 and 1,800 units.
• C) $7 and 2,000 units.
• D) $6 and 1,400 units.

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Definitions:

Section 11

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1933 Act

Also known as the Securities Act of 1933, this U.S. law was enacted to protect investors by requiring transparency in financial statements so investors can make informed decisions about investments.

Registration Statement

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Rule 10b-5

A regulation under the Securities Exchange Act of 1934 prohibiting any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.