Question 3 Suppose that the domestic demand and supply curves for 8 oz. jars of guava jelly are characterized by the following demand and supply functions: Demand: 0=70-5P Supply: 0=5P-10 Part (v): Suppose that the world price of a jar of guava jelly is $4, and that the government imposes a $2 tariff per jar. How many jars of guava jelly will American sellers sell? A. 10 jars B. 20 jars C. 30 jars D. 40 jars E. 50 jars F. 60 jars G. 70 jars Part (vi): When a country imports a good, and the government imposes a tariff on that good, does the volume of imports rise or fall