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The Diagram Below Shows the Demand and Supply Curves for Refrigerators

question 44

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The diagram below shows the demand and supply curves for refrigerators in Canada. The diagram below shows the demand and supply curves for refrigerators in Canada.   FIGURE 33-1 Refer to Figure 33-1.Suppose P<sub>0</sub> is the world price and Canada imports refrigerators.Suppose the Canadian government then responds to political pressure from domestic refrigerator manufacturers and imposes a tariff high enough that all imports are eliminated.As a result of this tariff,the price and quantity of refrigerators in Canada will be,respectively, A) P<sub>0</sub> and Q<sub>1</sub>. B) P<sub>0</sub> and Q<sub>5</sub>. C) P<sub>1</sub> and Q<sub>2</sub>. D) P<sub>1</sub> and Q<sub>3</sub>. E) P<sub>2</sub> and Q<sub>3.</sub> FIGURE 33-1 Refer to Figure 33-1.Suppose P0 is the world price and Canada imports refrigerators.Suppose the Canadian government then responds to political pressure from domestic refrigerator manufacturers and imposes a tariff high enough that all imports are eliminated.As a result of this tariff,the price and quantity of refrigerators in Canada will be,respectively,


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