The Effect of Trade Policy
Price | Quantity demanded | Quantity supplied |
$29 | 220 | 220 |
18 | 250 | 150 |
5 | 300 | 130 |
The table presents data for the domestic market for electric razors. Under autarky, the price of an electric razor is $29. With free trade the price of an electric razor is $5 and after a tariff is imposed the price is $18. If there is free trade, this country will import ________ electric razors.
◦ 100
◦ 90
◦ 300
◦ 170