In Figure 32.1, at the supported price-quantity combination where production is limited, the value to consumers is 

What is a trade credit?

a. A credit card purchase b. A government loan for exporters c. The extension of a period of time before which an importer must pay for goods and services purchased d. An IMF loan to meet trade deficit and liabilities for hard currencies e. The time it takes for franchisees to pay for the products they obtain from the main franchiser

Figure 4-22

Because of falling oil prices in the past, Libya could afford fewer imported goods. Government controls were established to limit imports of cigarettes. In 1985, the market price of Marlboros rose to $70 a carton. Which graph in Figure 4-22 best depicts this situation?

a.
1

b.
2

c.
3

d.
4