The figure illustrates the market for tricycles in a country. 222222 38 36 34 32 30 28 26 24 20 18 16 14- 12 10 N Price Domestic Supply With free trade, the price of tricycles in this country is O a. $11, and the country exports tricycles. O b. $19, and the country exports tricycles. O c. $11, and the country imports tricycles. d. $19, and the country imports tricycles. World price Domestic Demand 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600 Quantity

Principles of Macroeconomics (MindTap Course List)
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Author:N. Gregory Mankiw
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Chapter9: Application: International Trade
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The figure illustrates the market for tricycles in a country.
38
36
34
32
30
28
26
24
22
20
18
16
14-
12
10
N
Price
Domestic
Supply
With free trade, the price of tricycles in this country is
O a. $11, and the country exports tricycles.
O b. $19, and the country exports tricycles.
O c. $11, and the country imports tricycles.
d. $19, and the country imports tricycles.
World
price
Domestic
Demand
40 80 120 160 200 240 280 320 360 400 440 480 520 560 600
Quantity
Transcribed Image Text:The figure illustrates the market for tricycles in a country. 38 36 34 32 30 28 26 24 22 20 18 16 14- 12 10 N Price Domestic Supply With free trade, the price of tricycles in this country is O a. $11, and the country exports tricycles. O b. $19, and the country exports tricycles. O c. $11, and the country imports tricycles. d. $19, and the country imports tricycles. World price Domestic Demand 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600 Quantity
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