-The Above Figure Shows the Australian Market for 1 Carat

Multiple Choice

-The above figure shows the Australian market for 1 carat diamonds. With free trade, the price in Australia for diamonds is equal to ________ and, with the quota illustrated in the figure, the price in Australia is equal to ________.

A) $2,000; $3,000
B) $2,000; $2,000
C) $4,000; $3,000
D) $2,000; $4,000
E) $4,000; $2,000