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. If there is free trade, this country will import ________ leather wallets.

A) 50
B) 100
C) 200
D) 300

Leather Wallets

Small, flat cases made from leather, designed to hold personal items such as cash, credit cards, and identification documents.

Domestic Price

The price of goods or services within a country's domestic market, excluding international transactions.

Free Trade

An economic policy that allows imports and exports between countries with minimal governmental restrictions or tariffs to promote international trade.