In Figure 17-13, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how much tariff revenue will the United States government collect?

A) $4,000
B) $16,000
C) $20,000
D) $24,000
E) $48,000

Question

Karen Alvarez · Accepted Answer

Final Answer : A, Explanation :  The tariff revenue is equal to the tariff per unit multiplied by the number of units imported. In this case, the tariff is $1 per baseball and the number of units imported is 4,000 (as shown in the graph). Therefore, the tariff revenue is $1 * 4,000 = $4,000.

In Figure 17-13, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how much tariff revenue will the United States government collect?

A) $4,000
B) $16,000
C) $20,000
D) $24,000
E) $48,000

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Related questions

In Figure 17-13, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how much tariff revenue will the United States government collect?A) $4,000B) $16,000C) $20,000D) $24,000E) $48,000

Definitions

Learning Objectives

Learning Objectives

Related questions

In Figure 17-13, if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how much tariff revenue will the United States government collect?

A) $4,000
B) $16,000
C) $20,000
D) $24,000
E) $48,000