Refer to the information provided in Figure 20.4 below to answer the question(s) that follow. Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, domestic consumption of domestically produced wallets will be ________ wallets and domestic consumption of imported wallets will be ________ wallets.

A. 100; 250
B. 200; 50
C. 150; 100
D. 150; 250


Answer: C

Economics

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