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The Following Table Is Domestic Supply and Demand Schedules for a Product.Suppose

Question 134

Multiple Choice

The following table is domestic supply and demand schedules for a product.Suppose that the world price of the product is $1. The following table is domestic supply and demand schedules for a product.Suppose that the world price of the product is $1. Refer to the above data.With free trade, that is, assuming no tariff, the outputs produced by domestic and foreign producers respectively would be: A) 1 unit and 15 units. B) 4 units and 7 units. C) 7 units and 0 units. D) 4 units and 6 units. Refer to the above data.With free trade, that is, assuming no tariff, the outputs produced by domestic and foreign producers respectively would be:


A) 1 unit and 15 units.
B) 4 units and 7 units.
C) 7 units and 0 units.
D) 4 units and 6 units.

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