
Figure 5.6 Domestice Supply and demand for Wine - US

-Consider Figure 5.6.In the global market for wine,the EU is willing to supply as much wine as the US demands at $8 per bottle.IF the US imposes a quota of 15 bottles of wine,how much wine will US consumers demand,how much wine will US producers produce and how much wine will be imported?
A) 30 bottles,20 bottles,10 bottles
B) 40 bottles,25 bottles,15 bottles
C) 30 bottles,30 bottles,0 bottles
D) 30 bottles,15 bottles,15 bottles
Correct Answer:
Verified
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