Refer to the Diagram, Which Shows the Domestic Demand and Supply

question 338

Multiple Choice

Refer to the diagram, which shows the domestic demand and supply curves for a specific standardized product in a particular nation. If the world price of this product is $1, this nation will

• A) export all of the product.
• B) import all of the product.
• C) import some of the product and produce some of the product domestically.
• D) neither export nor import the product.

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