ECN 104 Study Guide - Quiz Guide: Market Power, Demand Curve, Pencil Sharpener
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Identify the choice that best completes the statement or answers the question. ___: when two countries choose to engage in international trade, who benefits, both countries benefit, one country benefits while the other country loses. c, only the larger country benefits. If china chooses to trade, what would the price of pencil sharpeners in china be and how many would be sold domestically? a. b. c. d. The before-trade domestic price of tomatoes in canada is per tonne. The world price of tomatoes is per tonne. Canada is a price taker in the tomatoes market. If trade in tomatoes is allowed, what will happen to the price of tomatoes in canada? a. b. c. d. Figure 9-3 represents the domestic cheese market in canada. What would be the price and quantity demanded of cheese in canada after trade: p0, q0, p1, q2, p1, q1, p0, q1.