The graph shown demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
If this economy is an autarky, its equilibrium price is _______ and its equilibrium quantity is _______.
A) $175; 815
B) $215; 500
C) $130; 1,150
D) $130; 500
Correct Answer:
Verified
Q113: The graph shown demonstrates the domestic demand
Q114: The graph shown demonstrates the domestic demand
Q115: The graph shown demonstrates the domestic demand
Q116: The graph shown demonstrates the domestic demand
Q117: The graph shown demonstrates the domestic demand
Q119: The graph shown demonstrates the domestic demand
Q120: The graph shown demonstrates the domestic demand
Q121: The graph shown demonstrates the domestic demand
Q122: An import quota is:
A)a tax on goods
Q123: Profits earned by foreign firms or governments
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents