Multiple Choice
Figure 5.1 illustrates the steel market for Mexico, assumed to be a "small" country that is unable to affect the world price. Suppose the world price of steel is given and constant at $200 per ton. Now suppose the Mexican steel industry is able to obtain trade protection.
Figure 5.1. Alternative Nontariff Trade Barriers Levied by a "Small" Country 
-Consider Figure 5.1.With free trade, the quantity of steel imported by Mexico equals
A) 2 tons.
B) 4 tons.
C) 6 tons.
D) 8 tons.
Correct Answer:
Verified
Correct Answer:
Verified
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