The Accompanying Tables Show Data for the Hypothetical Nations of P

question 135

Multiple Choice

$\begin{array}{l}\text { Domestic Market For Steel, Alpha }\\\begin{array}{|c|c|c|}\hline Q_{S} & P & Q_{d} \\\hline 60 & \$ 5 & 10 \\\hline 40 & 4 & 20 \\\hline 30 & 3 & 30 \\\hline 20 & 2 & 40 \\\hline 10 & 1 & 50 \\\hline\end{array}\end{array}$

$\begin{array}{l}\text { Domestic Market For Steel, Beta }\\\begin{array}{|c|c|c|}\hline Q_{S} & P & Q_{d} \\\hline 80 & \$ 5 & 20 \\\hline 70 & 4 & 30 \\\hline 60 & 3 & 40 \\\hline 50 & 2 & 50 \\\hline 40 & 1 & 60 \\\hline\end{array}\end{array}$

The accompanying tables show data for the hypothetical nations of Alpha and Beta. $Q_{S}$ is domestic quantity supplied, and $Q_{d}$ is domestic quantity demanded. Assuming that Alpha and Beta are the only two nations in the world, the equilibrium world price must be lower than $\$ 4$ because, at $\$ 4$ ,

• A) both nations want to import steel.
• B) both nations want to export steel.
• C) Beta wants to export more than Alpha.
• D) Alpha wants to import more than Beta.

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