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The Following Figure Shows the Demand and Supply for a Commodity

Question 11

Multiple Choice

The following figure shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market. The following figure shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market. Refer to Figure 10-3.In the absence of trade,the equilibrium price in the U.S.market is _____. A) P<sub>3</sub> B) P<sub>2</sub> C) P<sub>1</sub> D) P<sub>0</sub>
Refer to Figure 10-3.In the absence of trade,the equilibrium price in the U.S.market is _____.


A) P3
B) P2
C) P1
D) P0

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