Figure 9-3. The domestic country is China. Refer to Figure 9-3. With no international trade,
A.
the equilibrium price is $12 and the equilibrium quantity is 300.
B.
the equilibrium price is $16 and the equilibrium quantity is 200.
C.
the equilibrium price is $16 and the equilibrium quantity is 300.
D.
the equilibrium price is $16 and the equilibrium quantity is 450.