The following table has supply and demand information on widgets.Graph the supply and demand curves.Suppose the world price of widgets is $100 and there is free trade.The government imposes a quota of 30 units.What would happen to price?
Price
Quantity Demanded
Quantity Supplied
$0
0
0
$100
80
20
$200
70
40
$300
60
60
$400
50
80
$500
40
100
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