Figure 19-5
Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 19-5 shows the impact of this tariff.
-Refer to Figure 19-5.If the tariff was replaced by a quota which limited coffee imports to 20 million pounds,the amount of revenue received by coffee importers would equal
A) $5 million.
B) $15 million.
C) $50 million.
D) $78 million.
Correct Answer:
Verified
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