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Author Question: -3 Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure ... (Read 144 times)

Bernana

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Figure 7-3








Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure 7-3 illustrates the impact of the quota.  






Refer to Figure 7-3. With a quota in place, what is the quantity consumed in the domestic market and what portion of this is supplied by imports?


◦ Domestic consumption equals 28 million pounds of which 18 million pounds are imports.
◦ Domestic consumption equals 40 million pounds of which 22 million pounds are imports.
◦ Domestic consumption equals 34 million pounds of which 16 million pounds are imports.
◦ Domestic consumption equals 34 million pounds of which 18 million pounds are imports.


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Marked as best answer by Bernana on Mar 16, 2019

prumorgan

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