The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.?Figure 21.2

-Refer to Figure 21.2. At the initial equilibrium point, with demand curve D and supply curve S₁:
A) the price of dollar per British pound is $1.50 and the quantity of British pounds being traded is 225.
B) the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 225.
C) the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 300.
D) the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 350.
E) the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 300.

Question

The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.?Figure 21.2
 
-Refer to Figure 21.2. At the initial equilibrium point, with demand curve D and supply curve S₁:
A) the price of dollar per British pound is $1.50 and the quantity of British pounds being traded is 225. 
B) the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 225. 
C) the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 300. 
D) the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 350. 
E) the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 300.

Quizplus · Accepted Answer

The Answer of The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.?Figure 21.2
 
-Refer to Figure 21.2. At the initial equilibrium point, with demand curve D and supply curve S₁:
A) the price of dollar per British pound is $1.50 and the quantity of British pounds being traded is 225. 
B) the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 225. 
C) the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 300. 
D) the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 350. 
E) the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 300.

The Figure Given Below Depicts the Foreign Exchange Market for British