Figure 56 Domestice Supply and Demand for Wine - U

question 128

Multiple Choice

Figure 5.6 Domestice Supply and demand for Wine - U.S.
-Consider Figure 5.6.In the global market for wine, the EU is willing to supply as much wine as the U.S.demands at $8 per bottle.If the U.S.imposes a quota of 15 bottles of wine, how much wine will U.S.consumers demand, how much wine will U.S.producers produce and how much wine will be imported?

• A) 30 bottles, 20 bottles, 10 bottles
• B) 40 bottles, 25 bottles, 15 bottles
• C) 30 bottles, 30 bottles, 0 bottles
• D) 30 bottles, 15 bottles, 15 bottles

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