The following graph shows the supply of and demand for baseballs in the United States. If the world price is $3 per baseball and a tariff of $1 per baseball is imposed, then the tariff revenue collected by the United States government is _____.
Figure 19.3
A) $4,000
B) $16,000
C) $20,000
D) $24,000
E) $48,000
Correct Answer:
Verified
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