Multiple Choice
Figure 7.1
Figure 7.1 shows Canadian demand and supply for leather footwear.
-Refer to Figure 7.1.Suppose the government allows imports of leather footwear into the United States.What happens to the market price and what is the quantity of imports?
A) The price equals $24 and imports equal 20 units.
B) The price falls to $24 and imports equal 5 units.
C) The price falls to $18 and imports equal 15 units.
D) The price equals $18 and imports equal 10 units.
Correct Answer:
Verified
Correct Answer:
Verified
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