Reference: Ref 17-6 import 2 million SUVs. Reference: Ref 18-11 3 24. Figure: Th

Question

Reference: Ref 17-6

import 2 million SUVs.

Reference: Ref 18-11

3

24. Figure: The Supply and Demand for SUVs in the United States

Reference: Ref 17-6

__(Figure: The Supply and Demand for SUVs in the United States) the figure Supply and Demand for SUVs in the United States. Suppose the world price equals $50,000 and there is free trade. The United States would: import 6 million SUVs. export 6 million SUVs. export 2 million SUVs.

import 2 million SUVs.

32.

Reference: Ref 18-11

__(Table: Expected Scores from Studying Economics and Accounting) Examine the table Expected Scores from Studying Economics and Accounting. If Sam studied for a total of 3 hours, her combined scores would be maximized by spending _____ hour(s) studying accounting. 0 1 2

3

Reference: Ref 22-8
__(Table: Cost Data) Examine the table Cost Data, which shows data for a designer purse factory. The average total cost of producing 6 purses is: $190 $70 $50 $35

Explanation / Answer

First question is answered below

1. Correct option: (b)

Since world price is greater than free market price, the US will export SUV's

Export = World Demand - World Supply = 10-4 = 6 billion

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