This Graph Demonstrates the Domestic Demand and Supply for a Good,as

question 34

Multiple Choice

This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good.
According to the graph shown,if this economy were open to free trade,domestic consumers would consume how many units?

• A)60
• B)115
• C)150
• D)90

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Definitions:

International Cartel

An agreement among businesses or countries from different countries to control prices, limit competition, or divide markets.

Fix Prices

The practice of setting and maintaining prices at a certain level, often agreed upon by competitors or mandated by regulation, rather than allowing them to be determined by market forces.

Intel

A leading multinational corporation that specializes in the development of semiconductor chips and microprocessors used in computers.

Danfoss

A global company specialized in engineering solutions, often focusing on energy-efficient, climate-friendly technologies.