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The figure given below shows the U.S. market for imported wine. For simplicity, we consider export supply curves to be flat. Chilean wine is available for $480 per barrel and French wine is available for $420 per barrel. Suppose that the United States imposes a tariff of $80 per barrel on imported wine. How many barrels of wine will the United States import and who will they import from?
Cognitive Dissonance
A state of mental unease caused by possessing multiple conflicting beliefs, ideas, or values at the same time.
Dopamine-rich Circuits
Neural pathways in the brain that are densely populated with dopamine receptors, playing a key role in reward, pleasure, and addiction.
Passionate About
Having a strong feeling or enthusiasm for something or someone.
Brain
The central organ of the human nervous system, responsible for processing sensory information, and controlling thoughts, memory, speech, and movement.
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