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Figure 1 8 - 1 2 A graph of price, P , versus quantity, Q , for the market for baseballs. A linear demand curve
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A graph of price, P versus quantity, Q for the market for baseballs. A linear demand curve is shown and labeled D and a linear supply curve is shown and is labeled S The demand and supply curve intersect at the point Two additional points can be located on the supply curve at and Two additional points can be located on the demand curve at and at Two price lines are shown. One is at Price and the second is at Price An area between the price line at and the price line at and above the supply curve S is labeled area a A triangular area that is below the supply curve between the price of and and between the quantities and is labeled area b A rectangular area to the right of area b is found and labeled area e Area e is below the price line at and above the price line at and between the quantities of and A triangular area to the right of area e is found and is labeled area f This area f is below the demand curve D and between the price of and and between the quantities and A rectangular area below the price line at is found and labeled area c Area c is below the price line at and above horizontal axis and between the quantities of and
Refer to Figure The world price of a baseball is $ With free trade, how many baseballs will the United States import?
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