Suppose the world price of widgets is $5 each.If a widget-importing country imposed a $2 per widget tariff,what price would that country's consumers pay for widgets?
A) $10
B) $7
C) $5
D) $3
E) A price that is greater than $5 and less than $7

Question

Quizplus · Accepted Answer

The $2 per widget tariff would be added to the world price of $5, resulting in a price of $7 per widget for the importing country's consumers.

Suppose the World Price of Widgets Is $5 Each