The Following Are Domestic Supply and Demand Schedules for a Product

Multiple Choice

The following are domestic supply and demand schedules for a product. Suppose that the world price of the product is $1.

$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { supplied } \\\text { (domestic) }\end{array} & \text { Price } & \begin{array} { c } \text { Quantity } \\\text { demanded } \\\text { (domestic) }\end{array} \\\hline 12 & \$ 5 & 2 \\\hline 10 & 4 & 4 \\\hline 7 & 3 & 7 \\\hline 4 & 2 & 11 \\\hline 1 & 1 & 16 \\\hline\end{array}$
-Given 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) 1 unit and 16 units
E) 7 units and 7 units