Exhibit 19-6 
In Exhibit 19-6, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will be purchased in the United States?
Definitions:
Deregulation
The reduction or elimination of government power in a particular industry, usually with the aim of increasing competition and efficiency.
Industry Experts
Individuals with extensive knowledge and experience in a specific industry, often sought after for their insights and advice.
Government Subsidies
Financial assistance provided by the government to individuals, organizations, or industries to support economic activities deemed beneficial for the public.
Regulatory Capture
A situation where regulatory agencies are dominated by the industries they are charged with regulating, often leading to a favoring of industry interests over the public.
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