Figure 18.1
-Refer to Figure 18.1. With a tariff or quota, what is the equilibrium quantity of gloves in Duckland?

Question

Quizplus · Accepted Answer

With a tariff or quota, the equilibrium quantity of gloves in Duckland would adjust to the point where the domestic supply plus imports meets domestic demand at the higher price level caused by the tariff or quota. This typically results in a lower quantity than the free trade equilibrium, and among the provided options, 80 is the choice that represents this scenario.

Figure 18.1 -Refer to Figure 18.1. with a Tariff or Quota, What