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.If the tariff was replaced by a quota which limited coffee imports to 20 million pounds,the amount of revenue received by coffee importers would equal
A)$5 million.
B)$15 million.
C)$50 million.
D)$78 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.If the tariff was replaced by a quota which limited coffee imports to 20 million pounds,the amount of revenue received by coffee importers would equal
A)$5 million. 
B)$15 million. 
C)$50 million. 
D)$78 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.If the tariff was replaced by a quota which limited coffee imports to 20 million pounds,the amount of revenue received by coffee importers would equal
A)$5 million. 
B)$15 million. 
C)$50 million. 
D)$78 million.