The Diagram Below Shows the Demand and Supply Curves for Refrigerators

question 152

Multiple Choice

The diagram below shows the demand and supply curves for refrigerators in Canada.
FIGURE 33-1
-Refer to Figure 33-1,and assume the world price is P0.The Canadian government now imposes an import quota of the amount Q2Q4.The result would be that the price in Canada would

• A)stay at P0 and consumption would stay at Q5.
• B)stay at P0 and consumption would rise to Q3.
• C)rise to P2 and consumption would decrease to Q5.
• D)rise to P2 and consumption would decrease to Q4.
• E)rise to P1 and consumption would decrease to Q4.

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