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 the United States has a tariff of $80 per barrel on imported wine. Then, the U.S. joins a free trade area with Chile. At what price per barrel will the imported wines be purchased by the U.S. consumers?
Definitions:
Consumer Movement
A social and economic movement that promotes the rights and powers of consumers in relation to the sale and purchase of goods and services.
Collection Agency
A business that pursues payments of debts owed by individuals or businesses.
Debtor
An individual or entity that owes a debt to another individual or entity, referred to as the creditor.
Credit Report
A detailed report of an individual's credit history prepared by a credit bureau, used by lenders to determine creditworthiness.
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