Refer to the figure Import Tariffs. The figure shows the U.S. demand, U.S. supply, and world supply curves for baseball bats. In the absence of trade, the equilibrium price of bats will be _____, and the equilibrium quantity will be _____ million bats.

Figure: Import Tariffs

Question

Refer to the figure Import Tariffs. The figure shows the U.S. demand, U.S. supply, and world supply curves for baseball bats. In the absence of trade, the equilibrium price of bats will be _____, and the equilibrium quantity will be _____ million bats.
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Figure: Import Tariffs

Quizplus · Accepted Answer

The Answer of Refer to the figure Import Tariffs. The figure shows the U.S. demand, U.S. supply, and world supply curves for baseball bats. In the absence of trade, the equilibrium price of bats will be _____, and the equilibrium quantity will be _____ million bats.
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Figure: Import Tariffs

Refer to the Figure Import Tariffs