Table 31.3.1 Canada's Market for Widgets

Multiple Choice

Table 31.3.1
Canada's Market for Widgets

-Table 31.3.1 shows the Canadian supply of and demand for widgets. Widgets are available on the world market for $7. If the Canadian government imposes a tariff of $1, the domestic selling price will be ________ and quantity bought will be ________.

A) $6; 48 million
B) $7; 44 million
C) $8; 16 million
D) $8; 24 million
E) $8; 40 million