Figure 17-9
-Refer to Figure 17-9. With trade and without a tariff,
A) the domestic price is equal to the world price.
B) carnations are sold at $8 in this market.
C) there is a shortage of 400 carnations in this market.
D) this country imports 200 carnations.

Question

Figure 17-9 
-Refer to Figure 17-9. With trade and without a tariff,
A) the domestic price is equal to the world price. 
B) carnations are sold at $8 in this market. 
C) there is a shortage of 400 carnations in this market. 
D) this country imports 200 carnations.

Quizplus · Accepted Answer

With trade and without a tariff, the domestic price aligns with the world price due to the absence of trade barriers.

Figure 17-9 -Refer to Figure 17-9. with Trade and Without a Tariff