Asked by Islam Soliman on May 18, 2024
Verified
Refer to Figure 4.1. At the price of ________ cents per apple, the United States imports 6 million apples per day.
A) 20
B) 30
C) 40
D) 60
Price Of Apples
The amount of money required to purchase apples in a market, often influenced by factors like supply and demand, production costs, and seasonal variations.
Imported Apples
Apples brought into a country from another to be sold or consumed, which may be subject to tariffs or quality inspections.
- Acknowledge the influence of supply and demand on the determination of market prices and quantities.
Verified Answer
OG
Olivia GullionMay 24, 2024
Final Answer :
B
Explanation :
At the price of 30 cents per apple, the quantity demanded in the United States exceeds the quantity supplied domestically, leading to imports to meet the excess demand, specifically 6 million apples per day.
Learning Objectives
- Acknowledge the influence of supply and demand on the determination of market prices and quantities.