Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. Assume that initially there is free trade. The quantity of CD-Rom drives supplied by U.S. firms will increase by 3 million CD-Rom drives if the United States then imposes ________ tariff per CD-Rom drive on imported CD-Rom drives.
A. no
B. a $10
C. a $15
D. a $25
Answer: B
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When it became known in 1997 that the Thai government had insufficient foreign exchange reserves to maintain the exchange rate, how did currency speculators respond? What policy did the IMF suggest?
What will be an ideal response?
Marginal cost pricing refers to the:
A.) Offer of goods at prices equal to their marginal cost. B.) Sale of goods at the highest possible price. C.) Rate of output at which marginal cost equals marginal revenue. D.) Offer of goods at a price above marginal cost.
The incentive to charge a low price even though it leads to lower profits in Figure 8.9 is an example of:
A. the duopolists' dilemma. B. tying products. C. scarcity and choice. D. the economic problem.
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. In this market there will be an excess demand of 500 cheeseburgers at a price of
A. $5. B. $6. C. $7. D. $8.