Refer to the Figure Below to Answer the Following Questions

question 43

Multiple Choice

Refer to the figure below to answer the following questions.

The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt. Canada imposes a tariff on imported shirts of $4 per shirt.
Figure 31.3.1
-Refer to Figure 31.3.1. With the tariff, Canada imports ________ million shirts per year.

• A)24
• B)8
• C)32
• D)16
• E)40

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Definitions:

Earnings Per Share

This is a measure of a company's profitability, calculated by dividing the company's net income by the number of outstanding shares of its common stock.

Common Stock

Equity securities that represent ownership interests in a corporation, entitling holders to vote on corporate matters and receive dividends.

Earnings Per Share

A financial metric calculated by dividing a company's profit by the number of its outstanding shares of common stock.

Authorized Common Shares

The maximum number of common stock shares that a corporation is legally permitted to issue, as stated in its articles of incorporation.