Figure 17-13
In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, which area represents the amount of tariff revenue the United States government collects?
a.
a
b.
b
c.
c
d.
f
e.
e
d
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Refer to Table 9-14. The percentage change in real average earnings from 1965 to 2010 equals
A) 2.0 percent. B) 19.7 percent. C) 24.6 percent. D) 80.3 percent.
Economies of scale means that
A) the average fixed cost curve slopes downward over its entire range. B) the four-firm concentration ratio is below 80. C) the long-run average total cost curve slopes downward over it entire range. D) the long-run total cost curve slopes downward over it entire range.
Suppose your donut shop earns $24,000 in total revenues per month with explicit costs of $12,000 and opportunity costs of $8,000. Your accounting profit is
A) $16,000. B) $12,000. C) $4,000. D) zero.
According to the graph shown, if this economy were an autarky, producers would enjoy area:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. A.
B. ABC.
C. H.
D. HDE.