=+and imported into the United States at a world price of $9 per pound. U.S. domestic supply

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=+and imported into the United States at a world price of

$9 per pound. U.S. domestic supply and demand for various price levels are shown in the following table.

Price U.S. Supply

(million pounds)

U.S. Demand

(million pounds)

3 2 34 6 4 28 9 6 22 12 8 16 15 10 10 18 12 4 Answer the following questions about the U.S. market:

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Microeconomics

ISBN: 9781292081977

8th Global Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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