Figure 9-1 Figure 9-1 Shows the U

question 37

Multiple Choice

Figure 9-1 Figure 9-1 shows the U.S.demand and supply for leather footwear.
-Refer to Figure 9-1.Suppose the government allows imports of leather footwear into the United States.What happens to the market price and what is the quantity of imports?

• A)The price equals $24 and imports equal Q₂ units.
• B)The price falls to $24 and imports equal Q₂ - Q₁ units.
• C)The price falls to $24 and imports equal Q₁ - Q₀ units.
• D)The price equals $24 and imports equals Q₂ - Q₀ units.

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