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

question 101

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 Suppose that the country's government offers its iron ore producers an export subsidy of $10 per ton. How many tons will the country now export?

• A) 80 tons
• B) 70 tons
• C) 60 tons
• D) 50 tons

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