Multiple Choice
The demand for jeans in a country is given by D = 100 - 0.6P,where P is the price of a pair of jeans.Supply by domestic producers is given by S = 20 + 0.4P.The world price of a pair of jeans equals $30 and this economy is open to trade.If a quota of 40 pairs is placed on jeans imports,the quantity of jeans demanded domestically will change from ________ pairs with no quota to _______ pairs with the quota.
A) 52;82
B) 52;76
C) 82;76
D) 82;52
E) 82;36
Correct Answer:

Verified
Correct Answer:
Verified
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