-The Above Figure Shows the U

question 41

Multiple Choice

-The above figure shows the U.S.market for replacement cell phone batteries.With free trade,the United States imports ________ batteries and once the tariff illustrated in the figure is imposed,the United States imports ________ batteries.

• A) 900,000; 700,000
• B) 800,000; 400,000
• C) 300,000; 100,000
• D) 700,000; 300,000
• E) 900,000; 100,000

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Definitions:

Farm Income

The earnings from agricultural operations, including the sale of crops, livestock, and other farm-related sources.

Farm Household

A living arrangement where families live and work primarily on a farm producing agricultural goods.

Demand For Agricultural Products

The consumer need or desire for products originating from farming and agriculture.

U.S. Consumers

Individuals or households in the United States that purchase goods and services for personal use.