Table 31.2.1 Canada's Market for Widgets

question 55

Multiple Choice

Table 31.2.1
Canada's Market for Widgets

Refer to the table below to answer the following questions.
-Table 31.2.1 shows the Canadian supply of and demand for widgets.Widgets are available on the world market for $7.If the Canadian government imposes a tariff of $1,the domestic selling price will be ________ and quantity bought will be ________.

• A)$6;48 million
• B)$7;44 million
• C)$8;16 million
• D)$8;24 million
• E)$8;40 million

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Definitions:

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