Answer the Question on the Basis of the Following Data

question 38

Multiple Choice

Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta.Q_s is domestic quantity supplied and Q_d is domestic quantity demanded. $\begin{array}{c}\underline{\text { Domestic Market For Steel, Alpha }}\\\begin{array}{c}\underline{Q_{s}}\\ 60\\40\\30\\20\\10 \end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\10 \\20 \\30 \\40 \\50 \end{array}\end{array}$

$\begin{array}{c}\underline{\text { Domestic Market For Steel, Beta }}\\\begin{array}{c}\underline{Q_{s}}\\ 80 \\70 \\60 \\50 \\40\end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\20 \\30 \\40 \\50 \\60 \end{array}\end{array}$

Refer to the given data.Assuming that Alpha and Beta are the only two nations in the world,at the equilibrium world price:

• A) both nations will export steel.
• B) both nations will import steel.
• C) Alpha will export steel and Beta will import steel.
• D) Beta will export steel and Alpha will import steel.

---

Definitions:

Legislation

Laws and regulations enacted by a government or legislative body.

Cause Of Action

A set of factual circumstances that give someone the right to seek a legal remedy through the court system.

Province

A territorial unit of a country, often with its own government, that is administratively at a level below the national government.

Defendant Resides

Relates to the legal jurisdiction and location where a defendant (the party being sued) lives or has their primary residence.