-Refer to the diagram above,where S and D are the domestic supply and demand curves for a product.The world price of the product is $6.If the economy is open to international trade but a tariff of $4 per unit is imposed,then the total revenue going to domestic producers would be ________,the total revenue (after tariff) going to foreign producers would be ________,and the tariff revenue going to the government would be ________.

Question

Quizplus · Accepted Answer

The correct answer is A because the total revenue going to domestic producers would be $400, the total revenue (after tariff) going to foreign producers would be $120, and the tariff revenue going to the government would be $80.

-Refer to the Diagram Above,where S and D Are the Domestic