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The Following Table Gives the Hypothetical Supply and Demand of Television

question 124

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The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set. The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price)  is $300 per TV set.   With free trade, how many TV sets will Guatemala produce? A)  800 B)  600 C)  400 D)  200 With free trade, how many TV sets will Guatemala produce?


Definitions:

Line Structure

The simplest form of organizational structure that direct lines of authority flow from top management to individual employees, establishing a clear hierarchy.

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