Refer to the information provided in Figure 19.4 below to answer the questions that follow.
Figure 19.4
-Refer to Figure 19.4.The domestic price of a leather wallet is $20.With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15.If the tariff is raised so that it now equals $10,tariff revenue in this country will be
A) $0.
B) $1,000.
C) $2,000.
D) $3,000.
Correct Answer:
Verified
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