Which of the following statements is true?
A) The combined demand for each commodity by the two nations is negatively sloped
B) the combined supply for each commodity by the two nations is rising stepwise
C) the equilibrium relative commodity price for each commodity with trade is given by the intersection of the demand and supply of each commodity by the two nations
D) All of the above statements are true.

Question

Quizplus · Accepted Answer

All of the statements are true because the combined demand for each commodity by the two nations is negatively sloped, the combined supply for each commodity by the two nations is rising stepwise, and the equilibrium relative commodity price for each commodity with trade is given by the intersection of the demand and supply of each commodity by the two nations.

Which of the Following Statements Is True