The figure below shows the demand (D) and supply (S) curves of corn syrups.
Figure 20.3

-In Figure 20.3, if the world price per gallon is $8, then without quotas:

Question

The figure below shows the demand (D) and supply (S) curves of corn syrups.
Figure 20.3
 
-In Figure 20.3, if the world price per gallon is $8, then without quotas:

Quizplus · Accepted Answer

The correct answer depends on the supply and demand curves shown in Figure 20.3, which are not provided here. However, if the world price is $8 and the domestic price is higher, the quantity imported would be the difference between domestic demand and domestic supply at that price.

The Figure Below Shows the Demand (D) and Supply (S)