Figure 9-1 Figure 9-1 Shows the U.S. Demand and Supply for Leather

question 24

Multiple Choice

Figure 9-1

Figure 9-1 shows the U.S. demand and supply for leather footwear.
-Refer to Figure 9-1.Suppose the government allows imports of leather footwear into the United States.The market price falls to $18.What is the value of domestic producer surplus?

• A)$0
• B)$40
• C)$320
• D)$360

---

Definitions:

Berlin

The capital and largest city of Germany known for its historical significance, diverse culture, and periods of division and unification.

Eastern Bloc

Refers to the group of communist states of Central and Eastern Europe during the Cold War, aligned with the Soviet Union.

Hungary

A landlocked country in Central Europe, known for its rich history, its capital Budapest, and cultural heritage, including contributions to music, literature, and cuisine.