Figure 7.3.1 The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the dome The world price is $20 per shirt. Canada imposes a tariff on imported shirts of $4 per shirt. 17) Refer to Figure 7.3.1. With the tariff, Canada imports A) 40 B) 16 C) 24 million shirts per year. D) 32 E) 8
Figure 7.3.1 The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the dome The world price is $20 per shirt. Canada imposes a tariff on imported shirts of $4 per shirt. 17) Refer to Figure 7.3.1. With the tariff, Canada imports A) 40 B) 16 C) 24 million shirts per year. D) 32 E) 8
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Price (dollars per shirt)
44
388 €
40
36
32
28
24
20
16
12
0
8 16 24 32 40 48 56 64
Quantity (millions of shirts per year)
Figure 7.3.1
The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve.
The world price is $20 per shirt. Canada imposes a tariff on imported shirts of $4 per shirt.
17) Refer to Figure 7.3.1. With the tariff, Canada imports
A) 40
B) 16
C) 24
million shirts per year.
D) 32
E) 8
17)
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