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

question 92

Multiple Choice

This graph demonstrates the domestic demand and supply for a good,as well as a tariff and the world price for that good.
According to the graph shown,if the economy were open to free trade,the domestic quantity supplied would:

• A)drop from 815 to 250.
• B)drop from 815 to 500.
• C)increase from 250 to 500.
• D)increase from 815 to 1500.

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Definitions:

African Slaves

Individuals from Africa who were forcibly taken and transported to various parts of the world, especially the Americas, to work under slavery from the 16th to the 19th century.

Cartier

A French luxury goods conglomerate, primarily known for its jewelry and watches.

Precious Metals

Rare, naturally occurring metallic elements of high economic value, such as gold, silver, and platinum, often used for currency, jewelry, and as an investment.

Religious Dissidents

Individuals or groups who disagree with and challenge established religious doctrines or practices.