Question

The international equilibrium price (or world price) and quantity for a traded item is determined by:

Answer 1

Answer: The intersection of the export supply schedule and the import schedule

Explanation:

An equilibrium price is the price that is derived at the point where the supply of goods and demand of goods matches.

It should be noted that the international equilibrium price (or world price) and quantity for a traded item is determined by intersection of the export supply schedule and the import schedule. At the point they intersect, the price will be gotten. Than, the market can be said to be in a state of equilibrium.