(Scenario: Demand and Supply for Iron Ore) This Table Represents

question 21

Multiple Choice

(Scenario: Demand and Supply for Iron Ore) This table represents a demand and supply schedule for a small-country producer of iron ore. It sells output in its home market and on the world market at the world price of $70 per ton. Table: Demand and Supply for Iron Ore How many tons will be sold domestically when exporters receive a $10-per-ton export subsidy?

• A) 10 tons
• B) 20 tons
• C) 30 tons
• D) 40 tons

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