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The Diagram Below Shows the Demand and Supply Curves for Refrigerators

Question 44

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The diagram below shows the demand and supply curves for refrigerators in Canada. The diagram below shows the demand and supply curves for refrigerators in Canada. FIGURE 33-1 Refer to Figure 33-1.Suppose P<sub>0</sub> is the world price and Canada imports refrigerators.Suppose the Canadian government then responds to political pressure from domestic refrigerator manufacturers and imposes a tariff high enough that all imports are eliminated.As a result of this tariff,the price and quantity of refrigerators in Canada will be,respectively, A) P<sub>0</sub> and Q<sub>1</sub>. B) P<sub>0</sub> and Q<sub>5</sub>. C) P<sub>1</sub> and Q<sub>2</sub>. D) P<sub>1</sub> and Q<sub>3</sub>. E) P<sub>2</sub> and Q<sub>3.</sub> FIGURE 33-1 Refer to Figure 33-1.Suppose P0 is the world price and Canada imports refrigerators.Suppose the Canadian government then responds to political pressure from domestic refrigerator manufacturers and imposes a tariff high enough that all imports are eliminated.As a result of this tariff,the price and quantity of refrigerators in Canada will be,respectively,


A) P0 and Q1.
B) P0 and Q5.
C) P1 and Q2.
D) P1 and Q3.
E) P2 and Q3.

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