The figure below shows the demand (D) and supply (S) curves of corn syrups.Figure 21.3

-In Figure 21.3, if the world price per gallon is $8, then without quotas:

Question

The figure below shows the demand (D) and supply (S) curves of corn syrups.Figure 21.3
 
-In Figure 21.3, if the world price per gallon is $8, then without quotas:

Quizplus · Accepted Answer

The correct answer depends on the supply and demand curves in Figure 21.3. If the domestic quantity supplied at $8 is less than the domestic quantity demanded, the difference will be imported. Based on the options, 30 gallons is the correct import quantity.

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