Use the Following to Answer Question

question 22

Multiple Choice

Use the following to answer question:
-(Figure: The Market for Beats by Dre) Use Figure: The Market for Beats by Dre.Assume that S_d represents the domestic supply curve and D_d represents the domestic demand curve.If the world price equals $100 and there is free trade,this country:

• A)will import 150,000 Beats by Dre.
• B)will export 150,000 Beats by Dre.
• C)has a domestic supply equal to 250,000 Beats by Dre.
• D)has a domestic demand equal to 100,000 Beats by Dre.

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Definitions:

Sample Space

The set of all possible outcomes of a probability experiment.

Tree Diagram

A graphical representation of all possible outcomes of a sequence of events, each branching out from the previous one.

Graphical Method

A technique of solving mathematical problems by representing them with graphs.

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact by controlling and varying one or more variables.