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

question 232

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 an import quota of 400 units were imposed on the product, then the
Equilibrium price in Econland would be

• A) $6 and the total quantity available in Econland would be 2,200 units.
• B) $6 and the total quantity available in Econland would be 1,800 units.
• C) $7 and the total quantity available in Econland would be 2,000 units.
• D) $7 and the total quantity available in Econland would be 1,800 units.

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