Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, this country will import ________ leather wallets.

A) 50
B) 100
C) 150
D) 200

Leather Wallets

Small, foldable cases, often made of leather, used for carrying personal items such as cash, credit cards, and identification documents.

Domestic Price

The price of goods or services within a country's borders, as opposed to international or global market prices.

Free Trade

A policy allowing goods and services to be bought and sold across borders with little or no government tariffs, quotas, or prohibitions.