-Refer to Exhibit 34-12

Multiple Choice

-Refer to Exhibit 34-12.P_W is the price that exists in a free world market.With the imposition of a quota that limits imports to Q₄ - Q₃,consumers lose more than producers and importers gain.The result of the quota is a (net) loss represented by the area(s)

A) LGK + JHI.
B) KGHJ.
C) GCH + JHI.
D) LGK.
E) none of the above