Scenario 9-2 • for a Small Country Called Boxland,the Equation of the of the Domestic

question 23

Multiple Choice

Scenario 9-2
• For a small country called Boxland,the equation of the domestic demand curve for
cardboard is ,
where represents the domestic quantity of cardboard demanded,in tons,and represents the price of a ton of cardboard.
• For Boxland,the equation of the domestic supply curve for cardboard is ,
where represents the domestic quantity of cardboard supplied,in tons,and again
represents the price of a ton of cardboard.
-Refer to Scenario 9-2.Suppose the world price of cardboard is $60.Then,if Boxland goes from prohibiting international trade in cardboard to allowing international trade in cardboard,

• A)domestic producers of cardboard become better off and domestic consumers of cardboard become better off.
• B)domestic producers of cardboard become better off and domestic consumers of cardboard become worse off.
• C)domestic producers of cardboard become worse off and domestic consumers of cardboard become better off.
• D)domestic producers of cardboard become worse off and domestic consumers of cardboard become worse off.

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Definitions:

Amino Acids

Organic compounds serving as the building blocks of proteins, containing both amino and carboxylic acid functional groups.

Tidal Flat

A flat, muddy area of land that is covered and uncovered by the sea at high and low tides, respectively.

Clay Particles

The fine-grained mineral components of clay, usually less than 2 micrometers in size, contributing to its unique properties such as plasticity when wet.

Stromatolites

Layered structures formed by the growth of microorganisms in shallow water, representing some of the oldest fossils, dating back to over 3.5 billion years ago.