Proctoring Enabled: Ch 9 Quiz i Saved Help Save Exit Submit 9 A small country imports T-shirts. With free trade at a world price of $10, domestic production is 10 million T-shirts and domestic consumption is 42 million T-shirts. The country's government now decides to impose a quota to limit T-shirt imports to 20 million per year. With the import quota in place, the domestic price rises to $12 per T-shirt and domestic production rises to 15 million T-shirts per year. The quota on T-shirts causes domestic consumers to 5 points Multiple Choice 00:22:39 Ask () gain $7 million. O lose $77 million. O lose $70 million. O lose $7 million