Refer to the Accompanying Table for a Certain Product's Market

question 100

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Quantity Demanded } \\\text { Domestically }\end{array} & \text { Price } & \begin{array} { c } \text { Quantity Supplied } \\\text { Domestically }\end{array} \\\hline 1,400 & \$ 10 & 2,200 \\\hline 1,600 & 9 & 2,000 \\\hline 1,800 & 8 & 1,800 \\\hline 2,000 & 7 & 1,600 \\\hline 2,200 & 6 & 1,400 \\\hline 2,400 & 5 & 1,200 \\\hline\end{array}$$ Refer to the accompanying table for a certain product's market in Econland. If the world price of the product were $6 and a tariff of $1 per unit imported is imposed, then the quantity of output that
Would be supplied domestically would be

• A) 1,400 units, and the quantity of output that would be imported would be 800 units.
• B) 1,600 units, and the quantity of output that would be imported would be 800 units.
• C) 1,600 units, and the quantity of output that would be imported would be 400 units.
• D) 1,400 units, and the quantity of output that would be imported would be 400 units.

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Definitions:

Historical Significance

The importance of an event, person, or place in history due to its impact, influence, or contribution to historical developments.

Socialism

A political and economic theory advocating collective or governmental ownership and administration of the means of production and distribution of goods.

Carlos Montezuma

An influential Yavapai doctor and activist in the early 20th century, advocating for the rights and sovereignty of Native American people.