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

question 26

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 neither exports nor imports?

• A) $9.00.
• B) $8.00.
• C) $7.00.
• D) $6.00.
• E) There is no price at which there will be neither exports nor imports.

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Definitions:

Opportunity Cost

The value of the next-best alternative when a decision is made; it's what is foregone to undertake a certain action.

Capital

Financial assets or their financial value, including funds in deposit accounts, as well as the machinery, buildings, or equipment used in producing goods and services.

Nondiversifiable Risk

A type of risk that cannot be eliminated through diversification and affects all investments across the market.

Weighted Average

A mean where each value in the data set is multiplied by an assigned weight before the final calculation is performed.