Table 18-4 -Table 18-4 Presents the Demand and Supply Schedules for Television

Table 18-4
$\begin{array}{ccccccc}\text { Quantity }&\text { Quantity }&\text { Quantity }&\text { Quantity }&\\\text { Price per } & \text { Demanded } & \text { Supplied } & \text { Demanded } & \text { Supplied } \\\text { TV } & \text { in United States } & \text { in United States } & \text { Japan } & \text { Japan } \\\underline {\text { (dollars) }} &\underline { \text { (thousands) }} & \underline { \text { (thousands) }} &\underline { \text { (thousands) }} & \underline { \text { (thousands) }} \\100 & 100 & 10 & 100 & 25 \\200 & 85 & 20 & 85 & 50 \\300 & 70 & 30 & 70 & 70 \\400 & 60 & 40 & 60 & 80 \\500 & 50 & 50& 50 & 90 \\600 & 40 & 60 & 40 & 100 \\700 & 30 & 70 & 30 & 110 \\800 & 30 & 80 & 20 & 120\end{array}$
-Table 18-4 presents the demand and supply schedules for television sets in Japan and the United States.If the United States and Japan decide to trade with each other, what will happen to the output of television sets in Japan?

A) TV production in Japan will fall by 10,000 units.
B) TV production in Japan will fall by 20,000 units.
C) TV production in Japan will fall by 30,000 units.
D) TV production in Japan will increase by 10,000 units.

Correct Answer:

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