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Figure 19-1 Figure 19-1 Shows the U

Question 69

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Figure 19-1 Figure 19-1   Figure 19-1 shows the U.S.demand and supply for leather footwear. -Refer to Figure 19-1.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 equals 10 units. Figure 19-1 shows the U.S.demand and supply for leather footwear.
-Refer to Figure 19-1.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 equals 10 units.

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