-Refer to the Diagram Above

question 20

Multiple Choice

-Refer to the diagram above.If this country imposes an import quota of 500 pairs of shoes per year,then the economic rent to the holders of import licences will equal ____________________ per year.

• A) $2500
• B) $6250
• C) $7500
• D) $10,000
• E) $15,000

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Definitions:

Ethnic Groups

Communities or populations sharing a common cultural background, ancestral lineage, language, or social experience.

Prejudice

A preconceived opinion or bias against someone or something without sufficient knowledge, thought, or reason.

Mirror-Image Perceptions

A psychological concept where parties in conflict each view themselves as ethical and peaceful and view the opposing side as evil or aggressive.

Silence

The absence of any sound or noise; a state or condition marked by a lack of audible sound or communication.