Exhibit 19-5

-In Exhibit 19-5, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?

Name: Exhibit 19-5 -In Exhibit 19-5, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?
Brand: Quizplus
Rating: 4.9 (58 reviews)

Question

Exhibit 19-5
 
-In Exhibit 19-5, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?

Quizplus · Accepted Answer

The tariff raises the domestic price of baseballs to $4, and at that price, the United States will import 4,000 baseballs.

Exhibit 19-5 -In Exhibit 19-5, If the World Price of a Baseball