Refer to the information provided in Figure 4.4 below to answer the question(s) that follow. Figure 4.4
-Refer to Figure 4.4. Assume that initially there is free trade. Tariff revenue of $50 million per day will be generated if the United States imposes a ________ tariff per barrel on imported oil.
A) $25
B) $50
C) $100
D) $150

Question

Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.  Figure 4.4
-Refer to Figure 4.4. Assume that initially there is free trade. Tariff revenue of $50 million per day will be generated if the United States imposes a ________ tariff per barrel on imported oil.
A) $25 
B) $50 
C) $100 
D) $150

Quizplus · Accepted Answer

A $25 tariff per barrel would generate $50 million per day in revenue, assuming the quantity of imported oil remains constant and matches the scenario described in the figure.

Refer to the Information Provided in Figure 4