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Figure 9-3 Price per pound US Supply $3.75 2.75 2.00 00 E JM B D - US Price with Quota - World price (Pw 1.00
Figure 9-3 Price per pound US Supply $3.75 2.75 2.00 00 E JM B D - US Price with Quota - World price (Pw 1.00 F L N 0 10 18 28 34 40 US Demand Quantity (millions of pounds) Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure 9-3 illustrates the impact of the quota. Refer to Figure 9-3. What is the area of consumer surplus after the imposition of the quota? O G + H G + H+ E + I+ ] + M A + G + H A
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