Suppose the World Price of a Good Is $4 A) Import 20 Units
B) Export 20 Units
C) Import

question 20

Multiple Choice

Suppose the world price of a good is $4.Based on the table below,the country will $$\begin{array} { | l | l | l | } \hline \text { Price } & \text { QDemanded } & \text { QSupplied } \\\hline 2 & 100 & 70 \\\hline 4 & 95 & 75 \\\hline 6 & 90 & 80 \\\hline 8 & 85 & 85 \\\hline 10 & 80 & 90 \\\hline 12 & 75 & 95 \\\hline\end{array}$$

• A) import 20 units
• B) export 20 units
• C) import 10 units
• D) export 10 units

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Definitions:

Exemplar Model

A theory in cognitive psychology suggesting that individuals categorize objects and concepts based on comparisons to mental examples of similar instances.

Categorizing Concepts

The mental process of grouping objects, ideas, or information into classes or categories based on common characteristics or attributes.

Prototype Model

A way of thinking about concepts: Within each category, there is a best example—a prototype—for that category.

Concepts

Abstract ideas or mental symbols that are used to represent, organize, or understand objects, events, or thoughts based on common properties or characteristics.