Refer to the table above 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
Q90: Q91: Q92: Q93: The basic difference in the economic effects Q94: Assume that a tariff is imposed on![]()
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