Use the Following Table to Answer the Question(s)below for Country

question 14

Multiple Choice

Use the following table to answer the question(s) below for Country Y,which is open to trade.Column 1 shows the price of a product,column 2 shows the domestic quantity demanded domestically (Qd) ,and column 3 shows the domestic quantity supplied (Qs) .

-Refer to the above table.At what price will there be imports?

• A) $6.00.
• B) $7.00.
• C) $8.00.
• D) $9.00.
• E) There is no price at which there will be imports.

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Definitions:

Median

The middle value in a list of numbers, which divides the list into two equal halves.

Data Set

A collection of related data points or information, typically organized for analysis, research, or informational purposes.

Median

A statistical measure representing the middle value in a set of data, where half the numbers are above and half are below.

Mean

The average value of a group of numbers, calculated by dividing the sum of all the numbers by the count of the numbers.