The Figure Given Below Depicts the Negatively Sloped Demand and Positively

question 26

Multiple Choice

The figure given below depicts the negatively sloped demand and positively sloped supply curves of wheat in a country. Figure 21.2 In Figure 21.2, if the world price per bushel of wheat is $25 and a tariff of $10 is imposed by the domestic government, what is the domestic demand?

• A)400 bushels
• B)450 bushels
• C)200 bushels
• D)300 bushels
• E)150 bushels

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Definitions:

Collective Behaviour

Actions or behaviors of a group of people who are in direct or indirect contact and engage in similar activities or practices, often spontaneous and with uncertain outcomes.

Expressive Crowds

Groups of people who gather primarily for the spontaneous expression of emotion, such as joy, anger, or mourning, often in response to an event or communal sentiment.

Digital Immigrant

An individual who adopts and learns digital technologies later in life, as opposed to growing up with them.

Luddite

Identifies individuals or groups who oppose or are skeptical of technological advancement and innovation, historically originating from early 19th-century English workers who destroyed machinery they believed threatened their jobs.