The Figure Given Below Shows the Market for Shoes in the U.S

question 17

Multiple Choice

The figure given below shows the market for shoes in the U.S. The domestic price line with tariff lies above the international price line. D_d and S_d are the domestic demand and supply curves of shoes respectively. The consumption effect of the tariff on shoes is measured by the area _____.

• A)a
• B)b
• C)c

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Definitions:

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