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Figure 7-3 Since 1953 the United States Has Imposed

Question 154

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Figure 7-3 Figure 7-3 Since 1953 the United States has imposed a quota to limit the imports of peanuts.Figure 7-3 illustrates the impact of the quota. -Refer to Figure 7-3.What is the reduction in value of consumer surplus after the imposition of the quota? A) $8 million B) $26.25 million C) $27.75 million D) $30 million Since 1953 the United States has imposed a quota to limit the imports of peanuts.Figure 7-3 illustrates the impact of the quota.
-Refer to Figure 7-3.What is the reduction in value of consumer surplus after the imposition of the quota?


A) $8 million
B) $26.25 million
C) $27.75 million
D) $30 million

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