Figure 71Defending the Target Price in Face of Changing Demand Conditions

question 28

Multiple Choice

Figure 7.1.Defending the Target Price in Face of Changing Demand Conditions
-Consider Figure 7.1.Suppose the demand for tin decreases from D₀ to D₂.Under a system of export quotas,the tin producers could maintain the target price by:

• A) Increasing the quantity of tin supplied by 15 pounds
• B) Increasing the quantity of tin supplied by 30 pounds
• C) Decreasing the quantity of tin supplied by 15 pounds
• D) Decreasing the quantity of tin supplied by 30 pounds

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