pricesupplydomesticprice-$35import price + tarif$20demand100 300 500 650 850quantityBased on the graph above, if there is a tariff of $15 per unit imposed on imports in this market:A. 750 units will be imported and tariff revenue to the government will be $11.250B. 650 units will be imported and tariff revenue to the government will be $9,75OC. 350 units will be imported and tariff revenue to the government will be $5.250D. 300 units will be imported and tariff revenue to the government will be $4,500

The world price is $20 The imposition of a tariff of $15 per unit will increase the price from 20 to…

Answered: price supply domestic price $35 mport…

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price supply domestic price $35 mport price + tariff $20 demand 100 300 500 650 850 quantity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

price
supply
domestic
price-
$35
import price + tarif
$20
demand
100 300 500 650 850
quantity
Based on the graph above, if there is a tariff of $15 per unit imposed on imports in this market:
A. 750 units will be imported and tariff revenue to the government will be $11.250
B. 650 units will be imported and tariff revenue to the government will be $9,75O
C. 350 units will be imported and tariff revenue to the government will be $5.250
D. 300 units will be imported and tariff revenue to the government will be $4,500

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