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

The figure below shows the demand (D) and supply (S) curves of corn syrups.
Figure 20.3

-In Figure 20.3, suppose an import quota of 30 gallons of corn syrup is imposed. If the world price per gallon is $4:

A) there will be an excess domestic demand of approximately 35 gallons.
B) the domestic market will be in equilibrium.
C) there will be an excess domestic demand for 10 gallons.
D) there will be an excess supply of 20 gallons.
E) there will be an excess domestic demand for 20 gallons.

Correct Answer:

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