Use the following table for Country X to answer the next question. Column 1 of the table is the world price of a product, Column 2 is the quantity demanded domestically (Qdd), and Column 3 is the quantity supplied domestically (Qsd). Assume the small-country model is applicable.PriceQddQsd$5.002004004.002503503.003003002.003502501.00400200If the world price is $5.00, Country X will experience
A. a domestic surplus of 100 units, which will be exported.
B. a domestic surplus of 200 units, which will be exported.
C. neither a domestic surplus nor a shortage.
D. a domestic shortage of 100 units, which will be imported.
Answer: B
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a. True b. False Indicate whether the statement is true or false
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If an increase in income leads to an increase in the demand for sushi, then sushi is
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