Table 34-4 Table 34-4 Presents the Demand and Supply

Multiple Choice

Table 34-4 Table 34-4 presents the demand and supply schedules for television sets in Japan and the United States. If there is no trade between these countries, what are the equilibrium price and quantity in the United States?

A) P = $100, Q = 100
B) P = $200, Q = 85
C) P = $300, Q = 70
D) P = $500, Q = 50