Multiple Choice
Refer to the accompanying table for a certain product's market in Econland. If the world price of the product were $6 and a tariff of $1 per unit were applied to imports of the product, then the total revenue (after tariff) going to domestic producers would be
A) $11,200, and the total revenue (after tariff) going to foreign producers would be $2,800.
B) $11,200, and the total revenue (after tariff) going to foreign producers would be $2,400.
C) $8,400, and the total revenue (after tariff) going to foreign producers would be $2,800.
D) $13,200, and the total revenue (after tariff) going to foreign producers would be $2,400.
Correct Answer:
Verified
Related Questions