Table 7.3.1 Canada's Market for Widgets

question 46

Multiple Choice

Table 7.3.1
Canada's Market for Widgets

-Table 7.3.1 shows the Canadian supply of and demand for widgets. Widgets are available on the world market for $7. If the Canadian government imposes a tariff of $1, the domestic selling price will be ________ and quantity bought will be ________.

• A)$6; 48 million
• B)$7; 44 million
• C)$8; 16 million
• D)$8; 24 million
• E)$8; 40 million

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