Multiple Choice
Figure 4.1 illustrates the demand and supply schedules for pocket calculators in Mexico, a "small" nation that is unable to affect the world price.
Figure 4.1. Import Tariff Levied by a "Small" Country
-Consider Figure 4.1.In the absence of trade, Mexico produces and consumes
A) 10 calculators.
B) 40 calculators.
C) 60 calculators.
D) 80 calculators.
Correct Answer:

Verified
Correct Answer:
Verified
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