Figure 18.3
-Refer to Figure 18.3.With a tariff or quota,the equilibrium price is

Name: Figure 18.3 -Refer to Figure 18.3.With a tariff or quota,the equilibrium price is
Brand: Quizplus
Rating: 4.7 (50 reviews)

Question

Quizplus · Accepted Answer

The equilibrium price in the absence of any trade restrictions is $10. With a tariff or quota, the price will increase. Option A and B are too low for the new equilibrium price. Option D is too high as it is above the initial supply curve. Therefore, the best choice is C.

Figure 18.3 -Refer to Figure 18.3.With a Tariff or Quota,the Equilibrium Price