The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year. When a $2 tariff is in place, U.S. production is equal to ________ batteries per year

A) 100,000; 300,000
B) 100,000; 500,000
C) 300,000; 100,000
D) 300,000; 500,000
E) 900,000; 700,000

A

Economics

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Diversification can reduce firm-specific risk

a. True b. False Indicate whether the statement is true or false

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Per capita gross domestic product (GDP) in the United States is roughly:

A. $60,000. B. $45,000. C. $15,000. D. $75,000.

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