Sus 10 US 20 35 45 60 Quantity (millions of T-shirts per year) 23) The figure ab

Question

Sus 10 US 20 35 45 60 Quantity (millions of T-shirts per year) 23) The figure above shows the U.S. market for T-shirts, where Sus is the domestic supply curve and DUS is the domestic demand curve. The world price of a T-shirt is S5. The U.S. government imposes a $2 per unit tariff on imported T-shirts. The figure above shows that as a result of the tariff the price of a T-shirt in the United States --, and the quantity of T-shirts bought A) rises by $2; decreases by 15 million per year B) rises by $2; increases by 15 million per year C) falls by $2; increases by 5 million per year D) does not change; decreases by 5 million per year

Explanation / Answer

There is no doubt about answer. The prices rises by 2 dollars(7-5) and quantity of Tehsil shirts bought decrease by 15 million per year

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