If the world price is $5 and an import quota of 600 is imposed, the loss to the United States is, in numerals, $________ Price of calculators $45 40 30 20 10 5 S world price with tariff world price D 50 100 200 300 400 500 600 700 800 900 Quantity of calculators

If the world price is $5 and an import quota of 600 is imposed, the loss to the United States is, in numerals, $________ Price of calculators $45 40 30 20 10 5 S world price with tariff world price D 50 100 200 300 400 500 600 700 800 900 Quantity of calculators

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter20: International Trade

Section20.2: Trade Restictions

Problem 1ST

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Question

If the world price is $5 and an import quota of 600 is imposed, the loss to the
United States is, in numerals, $_
Price of
calculators
$45
40
30
20
10
5
S
world price with tariff
world
price
D
50 100 200 300 400 500 600 700 800 900
Quantity of calculators

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