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A graph shows a domestic supply, world supply, and domestic demand curves with price along the vertical axis and quantity along the horizontal axis. The
A graph shows a domestic supply, world supply, and domestic demand curves with price along the vertical axis and quantity along the horizontal axis. The data are as follows. The domestic demand begins at 75 dollars and has a negative slope. The domestic supply curve begins at origin and has a positive slope. The world supply curve begins at 25 dollars and runs parallel to the horizontal axis. A marked point is shown at the intersection of the domestic supply and domestic demand curves which is denoted by a dashed line at each price and quantity combination. The point is at a price of 50 dollars and 1,000 units. A marked point is shown at the intersection of the domestic supply and world supply curves which is denoted by a dashed line at each price and quantity combination. The point is at a price of 25 dollars and 800 units. A marked point is shown at the intersection of the domestic demand and world supply curves which is denoted by a dashed line at each price and quantity combination. The point is at a price of 25 dollars and 1,400 units. What quantity would be traded in the absence of
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