Exhibit 33-11

-Refer to Exhibit 33-11. P_W is the price that exists in the market before a tariff is imposed and P_{W + T} is the price that exists in the market after a tariff is imposed. Tariff revenues equal the area

Question

Exhibit 33-11

Exhibit 33-11 -Refer to Exhibit 33-11. P<sub>W</sub> is the price that exists in the market before a tariff is imposed and P<sub>W + T</sub> is the price that exists in the market after a tariff is imposed. Tariff revenues equal the area A) DBCG. B) EBCF. C) CFG. D) BCGE. E) DBCF.

Exhibit 33-11 -Refer to Exhibit 33-11. P<sub>W</sub> is the price that exists in the market before a tariff is imposed and P<sub>W + T</sub> is the price that exists in the market after a tariff is imposed. Tariff revenues equal the area A) DBCG. B) EBCF. C) CFG. D) BCGE. E) DBCF.

-Refer to Exhibit 33-11. P_W is the price that exists in the market before a tariff is imposed and P_{W + T} is the price that exists in the market after a tariff is imposed. Tariff revenues equal the area

Quizplus · Accepted Answer

Tariff revenues are represented by the area between the world price (P_W) and the world price plus tariff (P_{W + T}), over the quantity of imports. This is the area EBCF.

Exhibit 33-11 ​

Exhibit 33-11