The Demand for Soybeans in a Country Is Given by D

question 93

Multiple Choice

The demand for soybeans in a country is given by D = 5 - 0.2P,where P is the price of a bushel of soybeans.Supply by domestic producers is given by S = 1 + 0.8P.Both demand (D) and supply (S) of soybeans are measured in millions of bushels.If the world price of soybeans equals $5 and this economy is open to trade,then this country will

• A) export 1 million bushels of soybeans.
• B) export 2 million bushels of soybeans.
• C) neither import nor export soybeans.
• D) import 1 million bushels of soybeans.
• E) import 2 million bushels of soybeans.

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Definitions:

Reuses

In computing, the act or practice of using existing software components, code, or systems in new or additional applications to reduce duplication and save development time.

Discards

Refers to the action of rejecting or getting rid of something that is not needed or wanted, often seen in data processing and file management.

Prompts

Prompts are messages or symbols on a computer or device that request input or action from the user.

Table Datasheet

A view in databases that displays data in rows and columns, similar to a spreadsheet.