The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set. How much total tariff revenue will Guatemala collect when it imposes the 100% tariff on imported TVs?
A) $300
B) $0
C) $240,000
D) $360,000

Question

The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set.  How much total tariff revenue will Guatemala collect when it imposes the 100% tariff on imported TVs?
A) $300 
B) $0 
C) $240,000 
D) $360,000

Quizplus · Accepted Answer

The Answer of The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set.  How much total tariff revenue will Guatemala collect when it imposes the 100% tariff on imported TVs?
A) $300 
B) $0 
C) $240,000 
D) $360,000

The Following Table Gives the Hypothetical Supply and Demand of Television