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-The Above Figure Shows the Australian Market for 1 Carat

Question 82

Multiple Choice

-The above figure shows the Australian market for 1 carat diamonds. With free trade, the price in Australia for diamonds is equal to ________ and, with the quota illustrated in the figure, the price in Australia is equal to ________. A) $2,000; $3,000 B) $2,000; $2,000 C) $4,000; $3,000 D) $2,000; $4,000 E) $4,000; $2,000
-The above figure shows the Australian market for 1 carat diamonds. With free trade, the price in Australia for diamonds is equal to ________ and, with the quota illustrated in the figure, the price in Australia is equal to ________.


A) $2,000; $3,000
B) $2,000; $2,000
C) $4,000; $3,000
D) $2,000; $4,000
E) $4,000; $2,000

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