A small country is considering imposing a tariff on imported wine at the rate of $5 per bottle. Economists have estimated the following based on this tariff amount: The imposition of the tariff on wine will cause the country's economic well-being to _____ by _____.
A) fall; $0.5 million
B) rise; $0.75 million
C) fall; $100,000
D) fall; $0.75 million
Correct Answer:
Verified
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