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Scenario: the Following Figure Shows the Demand Curve, D, and the Supply

Question 155

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Scenario: The following figure shows the demand curve, D, and the supply curve, S, of chairs in Barylia. Barylia is open to free trade. The world price of chairs is $3, and the government of Barylia decides to impose a $1 tariff on the import of chairs.
Scenario: The following figure shows the demand curve, D, and the supply curve, S, of chairs in Barylia. Barylia is open to free trade. The world price of chairs is $3, and the government of Barylia decides to impose a $1 tariff on the import of chairs.    -Refer to the scenario above.What is the domestic price of chairs in Barylia in the absence of trade? A)  $2 B)  $3 C)  $4 D)  $6
-Refer to the scenario above.What is the domestic price of chairs in Barylia in the absence of trade?


A) $2
B) $3
C) $4
D) $6

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