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The Effect of Trade PolicyPriceQuantity demandedQuantity supplied$28220220182501707320110The table ...

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The Effect of Trade PolicyPriceQuantity demandedQuantity supplied$28220220182501707320110The table ...

The Effect of Trade Policy

Price	Quantity demanded	Quantity supplied
$28	220	220
18	250	170
7	320	110

The table presents data for the domestic market for electric razors. Under autarky, the domestic price of an electric razor is $28. With free trade the price of an electric razor is $7 and after a tariff is imposed the price is $18. The tariff causes domestic consumption to fall by ________ electric razors.

▸ 70

▸ 250

▸ 80

▸ 60

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 36 times

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