Texts: Country X
Price Qdd Qsd
200 400
250 350
300 300
350 250
400 200
$5.00
4.00
3.00
2.00
1.00
The accompanying table gives data for Country X. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Qdd), and Column 3 is the quantity supplied domestically (Qsd). If Country X opens itself up to international trade, at what world price will it begin importing some units of the product?
Question 1:
0.5π
Country X
Price Qaa Qsd
$5.00 200 400
$4.00 250 350
$3.00 300 300
$2.00 350 250
$1.00 400 200
The accompanying table gives data for Country X. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Qaa), and Column 3 is the quantity supplied domestically (Qsd). If Country X opens itself up to international trade, at what world price will it begin importing some units of the product?
A) Any price below $5.00
B) Any price above $5.00
C) Any price below $3.00
D) Any price above $3.00