The Figure Below Shows the Demand (D) and Supply (S)

The figure below shows the demand (D) and supply (S) curves of a good produced domestically in an economy as well as traded in the international market.
Figure 20.1
In the figure,
P₁: Price of the good in the international market.
P₂: Price of the good in the domestic market after the imposition of tariff by the government.
P₃: No-trade price of the good in the domestic market.
-According to Figure 20.1, the domestic equilibrium quantity of the good is:

A) Q₁.
B) Q₅.
C) Q₂.
D) Q₃.
E) Q₄.

Correct Answer:

Verified

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