The Figure Below Shows the Demand (D) and Supply (S)

question 87

True/False

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-While it is possible to erect barriers to foreign competition and save domestic jobs, restricting international trade may impose large costs on an economy.

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Definitions:

University

An educational institution designed for instruction, examination, or both, of students in many branches of advanced learning.

Monopolistic Distributor

An intermediary that possesses the exclusive power to distribute a product or service within a particular market, influencing prices and availability.

Marginal Cost

The investment required to manufacture an extra unit of a good or service.

Mineral Water

Water that contains minerals or other dissolved substances that alter its taste or give it therapeutic value, usually obtained from wells or springs.