Figure 9-3
-Refer to Figure 9-3. With trade and without a tariff,
A)the domestic price is equal to the world price.
B)roses are sold at $4 in this market.
C)there is a shortage of 400 roses in this market.
D)this country imports 200 roses.

Question

Figure 9-3 
-Refer to Figure 9-3. With trade and without a tariff,
A)the domestic price is equal to the world price. 
B)roses are sold at $4 in this market. 
C)there is a shortage of 400 roses in this market. 
D)this country imports 200 roses.

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 9-3 -Refer to Figure 9-3. with Trade and Without a Tariff