Refer to the figure Import Tariffs. The figure shows the U.S. demand, U.S. supply, and world supply curve for baseball bats. With free trade and no tariffs, the consumers will purchase _____ million bats, of which _____ million will be supplied domestically.
Figure: Import Tariffs
A) 32; 8
B) 20; 16
C) 32; 24
D) 20; 12
Correct Answer:
Verified
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