The accompanying table gives data for Country X. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Qd) , and Column 3 is the quantity supplied domestically (Qₛd) . If Country X opens itself up to international trade, at what world price will it begin exporting some units of the product?
Definitions:
Performance
Refers to how well an individual or organization completes tasks and achieves goals, often measured against pre-determined standards.
Cognitive Dissonance
The psychological distress felt when an individual simultaneously possesses conflicting beliefs, ideas, or values.
Inconsistency
The state of being inconsistent or not remaining the same throughout, often leading to confusion or unpredictability.
Discomfort
Discomfort is a feeling of unease or pain, either physical or psychological, often caused by an unfavorable situation or environment.
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