Biology Forums - Study Force

The table below shows hypothetical Canadian domestic demand and supply schedules for granite. Assume there are no restrictions on trade.

World Price of Granite ($/tonne)	Quantity Demanded of Granite (tonnes)	Quantity Supplied of Granite (tonnes)
1000	20	170
900	40	140
800	60	110
700	80	80
600	100	50
500	120	20
400	140	0
300	160	0

TABLE 19-6

Refer to Table 19-6. Suppose the world price of granite is $900. What quantity will Canada import or export?

▸ Canada will export 140 tonnes.

▸ Canada will import 100 tonnes.

▸ Canada will export 100 tonnes.

▸ Canada will neither import nor export.

▸ Canada will import 40 tonnes.

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