Solved

Refer to the Accompanying Graph, Where Sd and Dd Are

Question 14

Multiple Choice

  Refer to the accompanying graph, where S<sub>d</sub> and D<sub>d</sub> are the domestic supply and demand curves for a product. The world price of the product is $6. If an import quota of 40 units were imposed on the product, then the equilibrium price would be A) $6 and the quantity consumed 80 units. B) $8 and the quantity consumed 70 units. C) $10 and the quantity consumed 60 units. D) $12 and the quantity consumed 50 units. Refer to the accompanying graph, where Sd and Dd are the domestic supply and demand curves for a product. The world price of the product is $6. If an import quota of 40 units were imposed on the product, then the equilibrium price would be


A) $6 and the quantity consumed 80 units.
B) $8 and the quantity consumed 70 units.
C) $10 and the quantity consumed 60 units.
D) $12 and the quantity consumed 50 units.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions