Use the figure below of a subsidy on textiles to answer the question that follows. Which of the following statements is incorrect regarding the diagram below? R 65 559 45 X la 40 io C 30 b n e 40 60 80 d M 100 ST -DT Qty of Textile a. If the free trade price of textiles is R45, South Africa would produce 80T and consume 40T and exports 40T O b. At prices above R40, South Africa becomes an importer rather than an exporter or textiles O c. If the South African government now provides a subsidy of R10 on each unit of textile exported, price of textile increases to R55 for domestic producers and consumers O d. At Pt= 55, South Africa produces 100T and consumers consume30T and exports 70T

Use the figure below of a subsidy on textiles to answer the question that follows. Which of the following statements is incorrect regarding the diagram below? R 65 559 45 X la 40 io C 30 b n e 40 60 80 d M 100 ST -DT Qty of Textile a. If the free trade price of textiles is R45, South Africa would produce 80T and consume 40T and exports 40T O b. At prices above R40, South Africa becomes an importer rather than an exporter or textiles O c. If the South African government now provides a subsidy of R10 on each unit of textile exported, price of textile increases to R55 for domestic producers and consumers O d. At Pt= 55, South Africa produces 100T and consumers consume30T and exports 70T

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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