Multiple Choice

-The above figure shows the U.S. market for 1 carat diamonds. With free trade, the price in the United States for diamonds is equal to ________ and with the quota illustrated in the figure, the price in the United States is equal to ________.
A) $2,000; $2,000
B) $4,000; $2,000
C) $2,000; $3,000
D) $4,000; $3,000
E) $2,000; $4,000
Correct Answer:
Verified
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