The figure below represents the U.S. market for steel imports from Korea. The Korean government provides an export subsidy of $25 per ton, and Korean firms use the subsidy to reduce their export price to the United States to $375 per ton.Suppose the United States imposes a countervailing duty on the imports of steel at the rate of $25 per ton. What is the amount of revenue collected by the U.S. government by imposing this countervailing duty?

A diagram shows the quantity of tomatoes on the horizontal axis and the quantity of coffee on the vertical axis. The quantity of tomatoes remains constant as the quantity of coffee increases. The graph of these data is

A) a horizontal line. B) a vertical line. C) a positively sloped line. D) a negatively sloped line

Use the following formula to answer the indicated question: Welfare benefit = Maximum benefit - 0.7 [Wages - (Work expenses + Child care costs)] Suppose Miller works 2,000 hours per year at a wage of $8 per hour, has child care expenses of $3,000 per year, and has work expenses of $2,000. If the state maximum welfare benefit is $10,000 per year, based on the welfare formula given, Miller's welfare benefit will be

A. $10,000. B. Zero because his income has exceeded the limit. C. $2,300. D. $14,400.