Figure 7.3 Assume That the Canadian Government Limits the Import of Peanuts

question 76

Multiple Choice

Figure 7.3

Assume that the Canadian government limits the import of peanuts.
-Refer to Figure 7.3.Without the quota, the domestic price of peanuts equals the world price which is $2.00 per kilogram.What is the quantity of peanuts supplied by domestic producers in the absence of a quota?

• A)10 thousand kilograms
• B)28 thousand kilograms
• C)30 thousand kilograms
• D)40 thousand kilograms

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