Part (i): Suppose that the world price of a palm tree is $700 (i.e., that American sellers can sell an unlimited number of palm trees for $700 each, and that American consumers can purchase an unlimited number of palm trees for $700 each). How many palm trees will American consumers purchase? 1. 100 2. 125 3.150 4. 200 5. None of the above Part (ii): Suppose that the world price of a palm tree is $700. How many palm trees will American sellers sell? 1. 100 2.125 3. 150 4. 200 5. None of the above Part (iii): Suppose that the world price of a palm tree is $700. How many palm trees will the United States export? 1.50 2. 125 3.75 4. 200 5. None of the above

Part (i): Suppose that the world price of a palm tree is $700 (i.e., that American sellers can sell an unlimited number of palm trees for $700 each, and that American consumers can purchase an unlimited number of palm trees for $700 each). How many palm trees will American consumers purchase? 1. 100 2. 125 3.150 4. 200 5. None of the above Part (ii): Suppose that the world price of a palm tree is $700. How many palm trees will American sellers sell? 1. 100 2.125 3. 150 4. 200 5. None of the above Part (iii): Suppose that the world price of a palm tree is $700. How many palm trees will the United States export? 1.50 2. 125 3.75 4. 200 5. None of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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