The nation of Narnia is "small", unable to affect world prices. It imports peanuts at the price of $10 per bag. The demand curve is D = 600 - 10P & the supply curve is S = 50 + 5P. Consider an import quota that limits imports to 100 bags.The loss in consumer surplus is

Question 15 options:

$1500

$6500

$9000

$8000

$3500