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Figure 56 Domestice Supply and Demand for Wine - US

Question 67

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Figure 5.6 Domestice Supply and demand for Wine - US -Consider Figure 5.6.In the global market for wine,the EU is willing to supply as much wine as the US demands at $8 per bottle.IF the US imposes a quota of 15 bottles of wine what will happen to consumer surplus?

Figure 5.6 Domestice Supply and demand for Wine - US
Figure 5.6 Domestice Supply and demand for Wine - US -Consider Figure 5.6.In the global market for wine,the EU is willing to supply as much wine as the US demands at $8 per bottle.IF the US imposes a quota of 15 bottles of wine what will happen to consumer surplus? A) decreases by $210 B) decreases by $245 C) stays the same D) increases by $70
-Consider Figure 5.6.In the global market for wine,the EU is willing to supply as much wine as the US demands at $8 per bottle.IF the US imposes a quota of 15 bottles of wine what will happen to consumer surplus?


A) decreases by $210
B) decreases by $245
C) stays the same
D) increases by $70

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