Exhibit 19-9 -If the Country in Exhibit 19-9 Is Initially Trading Without

question 12

Multiple Choice

Exhibit 19-9
-If the country in Exhibit 19-9 is initially trading without restrictions at a world price of $2.00 and an import quota of 50 units per month is enacted, the gain to those awarded the right to import the 50 units and sell it at the new domestic price is represented by area

• A) a
• B) b
• C) c
• D) d
• E) c + d

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