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The Accompanying Table Gives Domestic Supply and Demand Schedules for a Product

Question 141

Multiple Choice

The accompanying table gives domestic supply and demand schedules for a product. Suppose that the world price of the product is $1. The accompanying table gives domestic supply and demand schedules for a product. Suppose that the world price of the product is $1.   With a $1-per-unit tariff, the quantities sold by foreign and domestic producers, respectively, will be A) 1 unit and 15 units. B) 7 units and 4 units. C) 11 units and 4 units. D) indeterminate. With a $1-per-unit tariff, the quantities sold by foreign and domestic producers, respectively, will be


A) 1 unit and 15 units.
B) 7 units and 4 units.
C) 11 units and 4 units.
D) indeterminate.

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