Multiple Choice
-Refer to the above diagram,where Sd and Dd are the domestic supply and demand for a product and Pc is the world price of that product.With free trade,that is,assuming no tariff,the outputs produced by domestic and foreign producers respectively would be:
A) v and vz.
B) w and wy.
C) w and wz.
D) vx and xz.
Correct Answer:
Verified
Correct Answer:
Verified
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