Use the following figure to answer the questions : Figure 10-5 shows the domestic U.S.market for bananas and the global market for bananas.The domestic supply curve is given by SUPPLY_US.With free trade,the equilibrium output in the U.S.market is Q.The import quota imposed by the government is equal to 0A.
-Refer to Figure 10-5.After the import quota has been imposed,the equilibrium price in the domestic market changes to _____.

Question

Use the following figure to answer the questions : Figure 10-5 shows the domestic U.S.market for bananas and the global market for bananas.The domestic supply curve is given by SUPPLY_US.With free trade,the equilibrium output in the U.S.market is Q.The import quota imposed by the government is equal to 0A.

-Refer to Figure 10-5.After the import quota has been imposed,the equilibrium price in the domestic market changes to _____.

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The Answer of Use the following figure to answer the questions : Figure 10-5 shows the domestic U.S.market for bananas and the global market for bananas.The domestic supply curve is given by SUPPLY US .With free trade,the equilibrium output in the U.S.market is Q.The import quota imposed by the government is equal to 0A. -Refer to Figure 10-5.After the import quota has been imposed,the equilibrium price in the domestic market changes to _____. A)P₁ B)P₂ C)P₃ D)P₄

Use the Following Figure to Answer the Questions : Figure