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Refer to the Table Above for a Certain Product's Market

Question 95

Multiple Choice

  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 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

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