The diagram below shows supply and demand curves for bicycles in the domestic Canadian market.Assume that all bicycles are identical. 
FIGURE 33-4
-Refer to Figure 33-4.Suppose there is free trade in bicycles and the world price is $200.If Canada then imposes a 50% import tariff on bicycles,domestic consumption will
Definitions:
DVCs
Digital Video Cameras, which are devices used to capture video in a digital format. If not related to digital video cameras, DVCs could be referring to a term not recognized without further context.
Corruption
The abuse of entrusted power for private gain, which can occur in both public and private sectors, undermining trust, inclusivity, and growth.
Development Assistance
Financial aid provided by governments and other agencies to support the economic, environmental, social, and political development of developing countries.
Industrially Advanced Countries
Nations characterized by high levels of industrialization, sophisticated technology, and a strong economy.
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