The graph shows the domestic demand and domestic supply for soybeans. Assume this country is open to international 100 trade, that soybeans are a perfectly competitive good, and that 90 the world price of soybeans is $30. Domestic supply 80 - Suppose a tariff of $10 is imposed. What price will result in this country? 70 – A 60 - 50 40 - $ World price 30 20 - Domestic demand After the tariff is imposed, how many units of soybeans will be imported? 10 10 20 30 40 50 60 70 80 90 100 Quantity Units Price ($)

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