-The above figure shows the Australian market for replacement mobile phone batteries. Suppose the Australian government imposes the tariff illustrated in the figure. The tariff is equal to ________, and the price Australian consumers pay ______ compared to the price paid when there was free trade.

Question

Quizplus · Accepted Answer

The tariff amount is the difference between the price consumers pay after the tariff is imposed and the price before the tariff, which typically results in an increase in the price paid by consumers. Since the specific values and figure are not provided, the general principle is that tariffs on imports lead to higher prices for consumers in the importing country.

-The Above Figure Shows the Australian Market for Replacement Mobile