Use the Following Table for Country X to Answer the Question

question 63

Multiple Choice

Use the following table for Country X to answer the question below. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Q_dd) and Column 3 is the quantity supplied domestically (Q_sd) . Refer to the table above. If Country X opens itself up to international trade and the world-market price of the product is $3, then Country X will:

• A) Neither export nor import the product
• B) Export some units of the product
• C) Import some units of the product
• D) Not produce the product

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