The Demand for Cars in a Certain Country Is Given

question 134

Multiple Choice

The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P. If this economy opens to trade while the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then the winners are ________.

• A)domestic consumers
• B)domestic consumers and import permit holders
• C)domestic producers and the government
• D)domestic producers and import permit holders

Apply critical thinking skills to interpret and clarify meaning in communication.

Understand the concept of fair-minded interpretation and its first rule.

Grasp the importance of precise meaning in legal and everyday contexts.

Identify and use critical thinking and negotiation strategies in conflict resolution and effective communication.