-Refer to the above figures. A tariff is placed on a foreign good. Which figure represents the situation in the domestic market for the foreign good?
A) Panel A
B) Panel B
C) Panel C
D) Panel D

Question

-Refer to the above figures. A tariff is placed on a foreign good. Which figure represents the situation in the domestic market for the foreign good?
A) Panel A 
B) Panel B 
C) Panel C 
D) Panel D

Quizplus · Accepted Answer

Panel A represents the situation in the domestic market for the foreign good because it shows the effect of a tariff on the price and quantity of the foreign good in the domestic market.

-Refer to the Above Figures