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Question 12 Question 12 5/kg 15 10 q (million kg) 100 200 300 400 Refer to the figure above, which shows the domestic supply curve

Question 12

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Question 12 5/kg 15 10 q (million kg) 100 200 300 400 Refer to the figure above, which shows the domestic supply curve and domestic demand curve for coffee in the small country of Rubinla. Assume the world price of coffee is $5 per kg and the costs of transporting coffee are negligible. If the government of Rubinia has a quota on coffee imports of 100 million kgs, the price of coffee in Rubinia will be closest to which of the following? $6 per kg $7 per kg $10 per kg $5 per kg $8 per kg $9 per kg

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