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Refer to the figure below. What does the world price for pencil sharpeners represent? Price of Pendl Sharpeners 30 25 20 15 8 10

 

Refer to the figure below. What does the world price for pencil sharpeners represent? Price of Pendl Sharpeners 30 25 20 15 8 10 5 D 0 100 007 300 Quantity of Pencil Sharpener 500 Domestic Supply World Price Domestic Demand 600 700

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