Figure: Home Market I (Figure: Home Market I) The government revenue due to the tariff is:

Name: Figure: Home Market I (Figure: Home Market I) The government revenue due to the tariff is:
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Question

Figure: Home Market I  (Figure: Home Market I) The government revenue due to the tariff is:

Quizplus · Accepted Answer

The government revenue due to the tariff is equal to the tariff rate multiplied by the quantity of imports. In this case, the tariff rate is $6 per unit and the quantity of imports is 8 units. Therefore, the government revenue due to the tariff is 6 x 8 = $48.

Figure: Home Market I (Figure: Home Market I) the Government