The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three different countries.Assume that all cheddar cheese is identical.
TABLE 33-1
-Refer to Table 33-1.Assuming that a 40% tariff is in place and that Canadians buy only the lowest-priced cheddar cheese,from which country will Canada buy its cheese?

Question

The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three different countries.Assume that all cheddar cheese is identical.
  TABLE 33-1
-Refer to Table 33-1.Assuming that a 40% tariff is in place and that Canadians buy only the lowest-priced cheddar cheese,from which country will Canada buy its cheese?

Quizplus · Accepted Answer

With a 40% tariff, the price of imported cheese will increase, making Canadian cheese the lowest-priced option.

The Table Below Shows the Prices in Canada of One