Multiple Choice Question Consider the market for cotton shown in the graph. As the graph indicates, in the absence of international trade, the domestic price of cotton would be $1 per pound. If the market is opened to international trade, the price would decrease to the world price of $0.40 per pound. Suppose domestic producers dislike the low price of $0.40 per pound and would prefer that it increase to $0.80 per pound. With the quota in place, ______ tons would be produced domestically. Multiple choice question. 500 700 400 300