Suppose that the United States currently both produces kumquats and imports them. The U.S. government then decides
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Fill in the table below using the letters in the figure:
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Price (dollars per pound) U.S. supply $1.00 0.75 K Н U.S. demand Quantity (millions of pounds) 4.0 6.0 12.0 13.0 Without Quota With Quota World price of kumquats U.S. price of kumquats Quantity supplied by U.S. firms Quantity demanded Quantity imported Area of consumer surplus Area of domestic producer surplus Area of deadweight loss
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