Figure 7-2 Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff.
-Refer to Figure 7-2.The loss in domestic consumer surplus as a result of the tariff is equal to
A)$5 million.
B)$19.875 million.
C)$24.875 million.
D)$31.125 million.

Question

Figure 7-2  Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff.
-Refer to Figure 7-2.The loss in domestic consumer surplus as a result of the tariff is equal to
A)$5 million. 
B)$19.875 million. 
C)$24.875 million. 
D)$31.125 million.

Quizplus · Accepted Answer

The Answer of Figure 7-2  Suppose the U.S.government imposes a $0.75 per pound tariff on coffee imports.Figure 7-2 shows the impact of this tariff.
-Refer to Figure 7-2.The loss in domestic consumer surplus as a result of the tariff is equal to
A)$5 million. 
B)$19.875 million. 
C)$24.875 million. 
D)$31.125 million.