The Diagram Below Shows the Demand and Supply Curves for Refrigerators

question 48

Multiple Choice

The diagram below shows the demand and supply curves for refrigerators in Canada.
FIGURE 33-1
-Refer to Figure 33-1.The free-market equilibrium price of refrigerators in Canada is P0,implying that P0 is the

• A)tariff-protected price.
• B)quota-induced price.
• C)cartel-induced price.
• D)world price.
• E)Canadian autarkic price.

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