Scenario: The following figure shows the demand curve, D, and the supply curve, S, of chairs in Barylia. Barylia is open to free trade. The world price of chairs is $3, and the government of Barylia decides to impose a $1 tariff on the import of chairs.

-Refer to the scenario above.How many chairs were imported by Barylia before the tariff was imposed by the government?

Question

Scenario: The following figure shows the demand curve, D, and the supply curve, S, of chairs in Barylia. Barylia is open to free trade. The world price of chairs is $3, and the government of Barylia decides to impose a $1 tariff on the import of chairs.
 
-Refer to the scenario above.How many chairs were imported by Barylia before the tariff was imposed by the government?

Quizplus · Accepted Answer

The scenario indicates that Barylia imported 60 units before the tariff was imposed.

Scenario: the Following Figure Shows the Demand Curve, D, and the Supply