The figure above shows the market for shirts in Australia, where D is the Australian demand curve and S is the Australian supply curve. The world price is $20 per shirt. Australia imposes a tariff on imported shirts of $4 per shirt.
-In the figure above, with the tariff Australian consumers purchase _______ million shirts per year.
A) 32
B) 16
C) 48
D) 40
Correct Answer:
Verified
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Q75: A tariff is
A) a government- imposed barrier
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Q78: A tariff hurts
A) the government by decreasing
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