The figure below shows the demand (D) and supply (S) curves of a good produced domestically in an economy as well as traded in the international market. Figure 21.1 In the figure,
P 1 : Price of the good in the international market.
P 2 : Price of the good in the domestic market after the imposition of tariff by the government.
P 3 : No-trade price of the good in the domestic market.
-According to Figure 21.1,the domestic equilibrium quantity of the good is:

Question

The figure below shows the demand (D) and supply (S) curves of a good produced domestically in an economy as well as traded in the international market. Figure 21.1  In the figure,
P 1 : Price of the good in the international market.
P 2 : Price of the good in the domestic market after the imposition of tariff by the government.
P 3 : No-trade price of the good in the domestic market.
-According to Figure 21.1,the domestic equilibrium quantity of the good is:

Quizplus · Accepted Answer

The Answer of The figure below shows the demand (D) and supply (S) curves of a good produced domestically in an economy as well as traded in the international market. Figure 21.1  In the figure,
P 1 : Price of the good in the international market.
P 2 : Price of the good in the domestic market after the imposition of tariff by the government.
P 3 : No-trade price of the good in the domestic market.
-According to Figure 21.1,the domestic equilibrium quantity of the good is:

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