-Refer to Exhibit 34-3.The world price is P_W.If a tariff is imposed,the price rises to P_W + T.Because of the tariff,government collects tariff revenues equal to the area of

Question

-Refer to Exhibit 34-3.The world price is P<sub>W</sub>.If a tariff is imposed,the price rises to P<sub>W</sub> + T.Because of the tariff,government collects tariff revenues equal to the area of A) 1. B) 1 + 2. C) 3. D) 1 + 2 + 4. E) 1 + 3.

Quizplus · Accepted Answer

The Answer of -Refer to Exhibit 34-3.The world price is P_W.If a tariff is imposed,the price rises to P_W + T.Because of the tariff,government collects tariff revenues equal to the area of A) 1. B) 1 + 2. C) 3. D) 1 + 2 + 4. E) 1 + 3.