Figure 9-4 Figure 9-4 shows the U.S. demand and supply for leather footwear.
-Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will the market price be?

Question

Figure 9-4  Figure 9-4 shows the U.S. demand and supply for leather footwear.
-Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will the market price be?

Quizplus · Accepted Answer

The market price will be $24, as this is the world price at which the U.S. market will import leather footwear, assuming the world price is lower than the domestic equilibrium price.

Figure 9-4 Figure 9-4 Shows the U