The Following Figure Shows the Domestic U

question 18

Multiple Choice

The following figure shows the domestic U.S.market for bananas and the global market for bananas.The domestic supply curve is given by SUPPLY_US.With free trade,the equilibrium output in the U.S.market is Q.The import quota imposed by the government is equal to 0A.
Figure 10-5
-Refer to Figure 10-5.After the import quota has been imposed,the equilibrium price in the domestic market changes to _____.

• A)P₁
• B)P₂
• C)P₃
• D)P₄

---

Definitions:

Statement Of Retained Earnings

A financial statement that details changes in retained earnings, including net income and dividends, for a specific period.

Balance Sheet

A financial report detailing a company's financial status at a particular moment, presenting assets, liabilities, and shareholders' equity.

Cash Dividends

The issuing of cash dividends from earnings to shareholders by a corporation.

Income Statement

A financial statement that shows a company’s revenue, expenses, and profit over a specific period.